CureVac Buys Frame Cancer Therapeutics In €32 Mln Deal

(RTTNews) - German biopharmaceutical company CureVac N.V. (CVAC) announced Thursday its acquisition of Frame Cancer Therapeutics, a private company focused on advanced genomics and bioinformatics, for 32 million euros.

The total consideration will be paid in CureVac shares. Following a 50 percent upfront payment, the residual amount will be split across two project milestone driven steps.

The company, which develops a new class of transformative medicines based on messenger ribonucleic acid or mRNA, noted that Frame's platform offers potential to develop off-the-shelf and personalized cancer vaccines targeting novel families of neoantigens. With the acquisition, CureVac will expand the antigen discovery and validation activities at the Amsterdam Science Park.

Franz-Werner Haas, Chief Executive Officer of CureVac, said, "The bioinformatics platform developed by Frame's researchers has the potential to identify a broad panel of neoantigens that go beyond conventional neoantigens and could strongly increase the likelihood of developing highly effective cancer vaccines."