CureVac Initiates Strategic Restructuring to Align Resources with Focus on
High-Value mRNA Pipeline Opportunities

Issuer: CureVac / Key word(s): Restructure of Company/Strategic Company
Decision
CureVac Initiates Strategic Restructuring to Align Resources with Focus on
High-Value mRNA Pipeline Opportunities

03.07.2024 / 08:12 CET/CEST
The issuer is solely responsible for the content of this announcement.

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CureVac Initiates Strategic Restructuring to Align Resources with
Focus on High-Value mRNA Pipeline Opportunities

  * Strategic restructuring includes a workforce reduction of approximately
    30%, re-focusing on research, development, and innovation to create
    leaner and more agile organization

  * Prioritization of high-value opportunities in oncology and other
    selected diseases, leveraging proprietary mRNA technology to develop
    novel treatment approaches

  * Company expects to deliver two or more clinical candidates by the end of
    2025 and plans to initiate at least two new Phase 1 studies by the end
    of 2026

  * Cash runway extended into 2028 through combination of new licensing
    agreement with GSK, reduced operating expenses and enhanced financial
    discipline

TÜBINGEN, Germany/BOSTON, USA - July 3, 2024 - CureVac N.V. (Nasdaq: CVAC)
("CureVac"), a global biopharmaceutical company developing a new class of
transformative medicines based on messenger ribonucleic acid ("mRNA"), today
announced a significant strategic restructuring to focus its resources on
high-value mRNA projects in oncology and other select areas of substantial
unmet medical need. The restructuring includes a workforce reduction of
approximately 30% to create a leaner, more agile organization re-focused on
technology innovation, research and development.

The restructuring initiative follows the recent new licensing agreement with
GSK, valued at up to EUR1.45 billion plus royalties. Under the new agreement,
GSK assumes control of the development, manufacturing and global
commercialization of COVID-19 and influenza programs, including
combinations, enabling CureVac to concentrate on its core strengths.

"We have achieved remarkable progress in advancing our mRNA platform,
evidenced by promising Phase 2 data for influenza and COVID-19 and the
recent licensing agreement with GSK," said Dr. Alexander Zehnder, Chief
Executive Officer of CureVac. "Now, we can embark on a new chapter for
CureVac. The new GSK agreement not only provides substantial financing but
also allows us to streamline our operations and focus on technology
innovation, research, and development. It enables us to prioritize our
oncology programs and further leverage our technology in other areas where
mRNA is uniquely suited to develop novel treatment approaches. While the
approximately 30% workforce reduction is a difficult decision on a personal
level, I am convinced that this is a necessary step to ensure the long-term
success of CureVac. As we implement this change, we are grateful to all our
employees for their dedication, passion and commitment in advancing
mRNA-based therapies to patients."

The company expects to report data from the Phase 1 study of its cancer
vaccine candidate CVGBM in glioblastoma in the second half of 2024. By the
end of 2025, CureVac expects to have two clinical candidates for
shared-antigen cancer vaccines in solid tumor and hematological cancers,
including one in collaboration with researchers at M.D. Anderson, with the
plan to initiate two additional Phase 1 studies by the end of 2026.

As a result of the restructuring, CureVac expects operational expenses to
decrease by more than 30% from 2025 onward, including a decrease of
personnel costs of approximately EUR25 million. The company estimates that it
will incur one-time restructuring charges of approximately EUR15 million,
including employee severance, benefits, and related costs, which it expects
to incur in the fourth quarter of 2024. The charges that CureVac expects to
incur are subject to a number of assumptions, including local law
requirements, and actual expenses may differ materially from the estimates.

The cost savings, combined with an upfront payment of EUR400 million and up to
EUR1.05 billion in milestones plus tiered royalties from the GSK agreement,
will extend CureVac's cash runway into 2028. Additional financial and
strategic updates will be provided during the Q3 earnings call in November
2024.

About CureVac

CureVac (Nasdaq: CVAC) is a pioneering multinational biotech company founded
in 2000 to advance the field of messenger RNA (mRNA) technology for
application in human medicine. In more than two decades of developing,
optimizing, and manufacturing this versatile biological molecule for medical
purposes, CureVac has introduced and refined key underlying technologies
that were essential to the production of mRNA vaccines against COVID-19, and
is currently laying the groundwork for application of mRNA in new
therapeutic areas of major unmet need. CureVac is leveraging mRNA
technology, combined with advanced omics and computational tools, to design
and develop off-the-shelf and personalized cancer vaccine product
candidates. It also develops programs in prophylactic vaccines and in
treatments that enable the human body to produce its own therapeutic
proteins. Headquartered in Tübingen, Germany, CureVac also operates sites in
the Netherlands, Belgium, Switzerland, and the U.S. Further information can
be found at www.curevac.com.

CureVac Media Contact

Patrick Perez, Junior Manager Public Relations

CureVac, Tübingen, Germany

T: +49 7071 9883-1831

patrick.perez@curevac.com

CureVac Investor Relations Contact

Dr. Sarah Fakih, Vice President Corporate Communications and Investor
Relations

CureVac, Tübingen, Germany

T: +49 7071 9883-1298

M: +49 160 90 496949

sarah.fakih@curevac.com

Forward-Looking Statements CureVac

This press release contains statements that constitute "forward looking
statements" as that term is defined in the United States Private Securities
Litigation Reform Act of 1995, including statements that express the
opinions, expectations, beliefs, plans, objectives, assumptions or
projections of CureVac N.V. and/or its wholly owned subsidiaries CureVac SE,
CureVac Manufacturing GmbH, CureVac Inc., CureVac Swiss AG, CureVac
Corporate Services GmbH, CureVac RNA Printer GmbH, CureVac Belgium SA and
CureVac Netherlands B.V. (the "company") regarding future events or future
results, in contrast with statements that reflect historical facts. Examples
include discussion of the potential efficacy of the company's vaccine and
treatment candidates and the company's strategies, financing plans, growth
opportunities and market growth. In some cases, you can identify such
forward-looking statements by terminology such as "anticipate," "intend,"
"believe," "estimate," "plan," "seek," "project," or "expect," "may,"
"will," "would," "could," "potential," "intend," or "should," the negative
of these terms or similar expressions. Forward-looking statements are based
on management's current beliefs and assumptions and on information currently
available to the company. However, these forward-looking statements are not
a guarantee of the company's performance, and you should not place undue
reliance on such statements. Forward-looking statements are subject to many
risks, uncertainties and other variable circumstances, including negative
worldwide economic conditions and ongoing instability and volatility in the
worldwide financial markets, ability to obtain funding, ability to conduct
current and future preclinical studies and clinical trials, the timing,
expense and uncertainty of regulatory approval, reliance on third parties
and collaboration partners, ability to commercialize products, ability to
manufacture any products, possible changes in current and proposed
legislation, regulations and governmental policies, pressures from
increasing competition and consolidation in the company's industry, the
effects of the COVID-19 pandemic on the company's business and results of
operations, ability to manage growth, reliance on key personnel, reliance on
intellectual property protection, ability to provide for patient safety,
fluctuations of operating results due to the effect of exchange rates,
delays in litigation proceedings, different judicial outcomes or other
factors. Such risks and uncertainties may cause the statements to be
inaccurate and readers are cautioned not to place undue reliance on such
statements. Many of these risks are outside of the company's control and
could cause its actual results to differ materially from those it thought
would occur. The forward-looking statements included in this press release
are made only as of the date hereof. The company does not undertake, and
specifically declines, any obligation to update any such statements or to
publicly announce the results of any revisions to any such statements to
reflect future events or developments, except as required by law.

For further information, please reference the company's reports and
documents filed with the U.S. Securities and Exchange Commission (SEC). You
may get these documents by visiting EDGAR on the SEC website at www.sec.gov.


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   Language:       English
   Company:        CureVac
                   Friedrich-Miescher-Str. 15
                   72076 Tübingen
                   Germany
   EQS News ID:    1938361

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