CureVac’s role evolves as BioNTech integrates CureVac; seven cancer-related regulatory studies are underway at BioNTech.

BioNTech unveiled a sweeping restructuring, including closing production sites in Idar-Oberstein, Marburg, and Singapore by 2027, and shuttering CureVac sites, with up to 1,860 jobs at risk to save around €500 million annually by 2029.

Medical manufacturing will shift: the COVID-19 vaccine production moves entirely to Pfizer, while Bristol Myers Squibb will develop BioNTech’s cancer drug Pumitamig, which is still in development.

Germany will cease Corona vaccine production and most German sites will close, with manufacturing redirected to Pfizer in the United States.

Funds saved from the cuts will be redirected into research, development, and market launch of cancer therapies.

Market reaction showed an intraday drop of about 5% and a stabilization near €81 per share, even as the company announced a large share buyback to signal investor confidence amid the pivot.

Founders Ugur Sahin and Özlem Turéczi are stepping back from the board by year-end 2026 to pursue a new mRNA-focused venture, while the first-quarter results show revenue down to €118.1 million and a net loss of €531.9 million due to higher oncology development costs.

Industry voices warn the plan prioritizes shareholder optics over employment and strategic stability, raising concerns about Germany’s biotech resilience.

BioNTech plans a buyback of up to $1 billion in shares over the next year as part of the capital return amid the restructuring.

The shift marks a move away from COVID vaccines toward mRNA-based oncology therapies, with multiple regulatory submissions planned by 2030.

BioNTech, built with Pfizer on Comirnaty, is now focusing on cancer treatments and broader mRNA applications, amid CureVac’s strategy differing in its emphasis on mRNA.

First-quarter 2026 revenue dropped to €118.1 million from €182.8 million year-over-year, with a net loss of €531.9 million due to reduced vaccine sales and higher R&D costs.