CureVac, Lilly developing mRNA cancer vaccines

CureVac AG (Tuebingen, Germany) and Eli Lilly and Co. (NYSE:LLY) partnered to develop up to five mRNA cancer vaccines based on CureVac's RNActive technology. CureVac will receive $50 million in upfront cash, and Lilly will invest €45 million ($53.1 million) in the biotech in exchange for a stake of about 3%. CureVac is eligible for a total of $1.7 billion in milestones for the five programs.

Lilly is to identify targets, perform clinical development and commercialize any approved vaccines. CureVac will design, formulate and manufacture mRNA products, and will have the option to co-promote the vaccines in Germany...