Arab Press

بالشعب و للشعب
Saturday, May 31, 2025

Bill and Melinda Gates-backed coronavirus vaccine maker soars in Wall Street debut

Bill and Melinda Gates-backed coronavirus vaccine maker soars in Wall Street debut

The race for a successful coronavirus vaccine is heating up in labs around the world - and on Wall Street. Germany's CureVac, a biotech with the backing of the Bill & Melinda Gates Foundation, more than tripled in its first day of trading Friday.
CureVac priced its initial public offering at $16 a share. The stock soared nearly 250%, to just below $56, by the end of the day.
The company, which is competing with the likes of Moderna (MRNA), Novavax (NVAX), BioNTech (BNTX) and Pfizer (PFE), is also backed by billionaire Dietmar Hopp, the co-founder of German software giant SAP (SAP).

Hopp owns nearly half of CureVac. The German government and Big Pharma leader GlaxoSmithKline (GSK) also have big stakes.
The Bill & Melinda Gates Foundation, the charitable arm of the multibillionaire Microsoft (MSFT) co-founder and his wife, invested $40 million in the company in 2015.

CureVac recently received approval from the governments of Germany and Belgium to start clinical trials for one of its vaccines for 1Covid1-19.

The company generated €17.4 million ($20.6 million) in revenue in 2019, an increase of 35% from the prior year. It is not yet profitable.

CureVac also has another big name in its roster of partners: the firm is working on technology with Elon Musk's electric car giant Tesla (TSLA). The company has had a development and intellectual property agreement with Tesla since November 2015, according to its regulatory filings with the Securities and Exchange Commission.

Musk tweeted last month that Tesla's German Grohmann division is helping build molecule printers for CureVac - a "side project" that may work with other drug companies.

CureVac is one of several biotechs that has attracted attention from the Trump administration as well. The company denied published reports earlier this year that President Trump was seeking to get some of the company's German scientists to come to the United States to work on a vaccine.

Hopp has not ruled out the possibility of the company working more closely with the US, though.

He said in March that CureVac is "committed to the goal of protecting all people from infections and improving therapies for patients worldwide" and added that the company's intention is to create "sustainable innovative infrastructure and jobs in Germany."
Comments

Oh ya 5 year ago
Yes anywhere mr and mrs devil can make a buck and work on their agenda of de population they will be there. Liberalism find the cure

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Netanyahu Accuses Starmer of Siding with Hamas
Calls Grow to Resume Syrian Asylum Claims in UK
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Denmark Increases Retirement Age to 70, Setting a European Precedent
Iranian Director Jafar Panahi Wins Palme d'Or at Cannes
Israeli Airstrike Kills Nine Children of Gaza Doctor
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
Mount Lewotobi Laki-Laki Erupts Again, Spewing Ash Cloud over Flores Island
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
Senate Democrats Move to Censure Trump Over Qatar Jet Gift
Hamas Releases Last Living US Hostage from Gaza Amid Ongoing Conflict
×