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CureVac(CVAC) - 2024 Q4 - Annual Report

mRNA Technology and Development - The company has a broad portfolio of mRNA-based medicines in preclinical and clinical development stages, with a focus on efficacy, safety, and protein expression at relatively low doses[380]. - The company has developed proprietary lipid nanoparticle (LNP) delivery systems that improve mRNA vaccine activity and thermostability, with candidates shown to be stable for over 12 months at room temperature[382]. - The company has made significant advancements in its mRNA technology platform over the past 24 years, focusing on optimizing mRNA for higher efficacy, greater speed, and lower production costs[387]. - The mRNA technology platform allows for rapid development and production of vaccines without the need for live pathogens, enhancing safety and efficiency[460]. - The optimization of the open reading frame (ORF) is crucial for maximizing protein expression, with engineered ORFs showing higher protein levels in mouse liver compared to wild-type[442]. - The mRNA optimization process includes enhancing translation, stability, and immunogenicity, with specific elements like the 5' cap and poly-A tail being critical for mRNA efficacy[429]. - The company employs a combinatorial approach to identify and create optimized UTR combinations for specific constructs, improving therapeutic mRNA performance[434]. - The company is developing proprietary lipid-nanoparticle (LNP) delivery systems tailored for specific therapeutic areas, enhancing the efficacy of mRNA-based treatments[449]. Clinical Trials and Studies - The company announced positive interim data from the COVID-19 Phase 2 clinical study for the monovalent mRNA vaccine candidate, CV0601, and the bivalent mRNA candidate, CV0701, completed in August 2024[381]. - In oncology, the candidate CVGBM, featuring a multi-epitope design, is currently being tested in a Phase 1 study for patients with resected glioblastoma, with preliminary results showing 77% of evaluable patients induced cancer antigen-specific T-cell responses[381]. - The Phase 2 study for a COVID-19 mRNA vaccine candidate was completed in August 2024, showing favorable reactogenicity and meaningful titers of neutralizing antibodies[385]. - The company has initiated a Phase 1 study for CVGBM, targeting newly diagnosed glioblastoma patients, with 16 patients recruited across four dose levels[474]. - Preliminary results show that 77% of evaluable patients developed cancer antigen-specific T-cell responses after treatment with CVGBM[475]. - The treatment was well tolerated, with 91% of treatment-related adverse events being mild to moderate, resolving within 1-2 days post-injection[479]. - The company has initiated a Phase 2 study for a multivalent influenza vaccine candidate, with promising interim data reported on April 4, 2024[461]. - The Phase 1 part of the combined seasonal influenza/COVID-19 vaccine study initiated by GSK in November 2024 aims to assess safety and immunogenicity[505]. Intellectual Property and Licensing - As of February 28, 2025, the company owns approximately 619 issued patents worldwide, including 119 issued U.S. patents and 36 issued European patents, making it one of the leaders in mRNA intellectual property[382]. - The company plans to strengthen and expand its intellectual property portfolio to protect advancements in its technology platform and product candidates[388]. - The company has trademark registrations for CureVac and its logo in the United States and certain foreign jurisdictions[587]. - The company relies on trade secrets and know-how, protected through confidentiality agreements with collaborators and employees[588]. - The company has entered into a new licensing agreement with GSK, known as the 2024 GSK Agreement, which became effective on July 11, 2024, after receiving approval from German Antitrust Authorities[523]. - GSK paid the company an upfront payment of €400 million and the company is eligible to receive up to €1.05 billion in development, regulatory, and sales milestones under the 2024 GSK Agreement[528]. Strategic Partnerships and Collaborations - The company is selectively seeking strategic partnerships to develop and commercialize product candidates, aiming to mitigate drug development risk while retaining economic rights to strategically important candidates[388]. - The collaboration with M.D. Anderson Cancer Center aims to develop differentiated cancer precision immunotherapy candidates for high unmet medical needs[469]. - The company has established a consortium with GSK for pandemic preparedness, which includes a framework agreement to provide production capacities for mRNA vaccines, allowing for 80 million doses per year until 2029[533]. - The company has received 1millionindevelopmentcostreimbursementsfromGenmab,withnoadditionalfeesormilestonepaymentsreceivedasofDecember31,2024[535].FinancialsandMilestonesThecompanyachievedregulatorymilestoneswithitsmanufacturingsystem,obtainingamanufacturinglicenseforanmRNAconstructincancerprecisionimmunotherapyinNovember2023andadrugsubstanceframeworkmanufacturinglicenseinDecember2023[388].Thecompanyhasreceivedatotalof15.1millioninpaymentsfromCRISPRTherapeuticsandhasinvoiced1.9millionforvariouscostsasofDecember31,2024[548].TheGatesFoundationhasprovidedupto1 million in development cost reimbursements from Genmab, with no additional fees or milestone payments received as of December 31, 2024[535]. Financials and Milestones - The company achieved regulatory milestones with its manufacturing system, obtaining a manufacturing license for an mRNA construct in cancer precision immunotherapy in November 2023 and a drug substance framework manufacturing license in December 2023[388]. - The company has received a total of €15.1 million in payments from CRISPR Therapeutics and has invoiced €1.9 million for various costs as of December 31, 2024[548]. - The Gates Foundation has provided up to 3.0 million in funding for the development of a vaccine for rotaviruses, with the company having received the full amount as of December 31, 2024[551]. - The company received a $40 million equity investment from the Gates Foundation to support the development of its RNA technology platform and the construction of a cGMP production facility[552]. Regulatory and Compliance - The company expects its product candidates to be regulated as biological products under U.S. law, with compliance required throughout the development process[591]. - The submission of an IND application is required before human clinical trials can begin, which becomes effective 30 days after receipt by the FDA unless concerns are raised[593]. - Clinical trials must be conducted under GCP requirements and include detailed study protocols submitted to the FDA as part of the IND[595]. - An IRB must review and approve each clinical trial, considering design, patient consent, and safety factors[597]. - The FDA may impose a clinical hold on trials at any time, delaying the study until concerns are resolved[594].