CureVac Announces Financial Results for the Fourth Quarter and Full-Year 2023 and Provides Business Update Organizational redesign and rightsizing initiated across company to streamline structures, increase efficiency an

CureVac Announces Financial Results for the

Fourth Quarter and Full-Year 2023

and Provides Business Update

T BINGEN, Germany/BOSTON, USA -

April 24, 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 financial results for the fourth

quarter and full-year 2023 and provided a business update.

"We closed out 2023 on a sturdy footing

and are poised to advance strongly through 2024 with strategic initiatives to make CureVac fit-for-purpose. We are adapting unnecessary

residual pandemic infrastructure, optimizing our workforce and aligning our structures and resources to the right size for our business

scope and development priorities. Under this streamlined structure, we intend to move forward with purpose and determination,"

said Dr. Alexander Zehnder, Chief Executive Officer of CureVac. "As we advance our pipeline in both infectious disease and oncology,

we continue to seize opportunities to accelerate development of our differentiated mRNA approach. This is most recently evidenced by

our collaboration with MD Anderson, one of the world's leading cancer centers. Further expanding such strategic collaborations

and partnerships will be the key focus for Thaminda Ramanayake, who will join the management team as Chief Business Officer in June."

"We finished 2023 with a robust cash position

of 402.5 million supported in Q4 by the recognition of a 15 million milestone from GSK for the start of the Phase 2 development

of our joint seasonal flu program," said Pierre Kemula, Chief Financial Officer of CureVac. "Going into 2024, we have had

a strong focus on cost management and increased operational efficiency. Importantly, and despite the wind-down of the Pandemic Preparedness

Agreement with the German government, these efforts enable us to extend our runway into the fourth quarter of 2025."

Following a comprehensive operational assessment

in 2023, CureVac is implementing in 2024 an organizational redesign to streamline structures and reduce operating costs across most areas

of the company. The program was initiated with a "voluntary leaver" program, with the aim to reduce 150 positions. The redesign

will be tailored to CureVac's business scope and pipeline priorities, significantly increasing efficiency and performance while

maintaining a strong focus on innovation and R&D activities. The initiated redesign is expected to result in financial savings from

the second half of 2024 onwards and extend the company's cash runway.

the Pandemic Preparedness Agreement

Due to a rapidly changing epidemiological environment

following the end of the COVID-19 pandemic, CureVac and GSK decided to end the Pandemic Preparedness Agreement jointly concluded with

the Federal Republic of Germany in April 2022. This decision was made after consultation with the German Federal Ministry of Health and

the German Center for Pandemic Vaccines and Therapeutics (ZEPAI). The agreement included the provision of production capacity and supply

of mRNA-based vaccines in the event of a public health emergency in Germany.

Termination will take effect on May 31, 2024,

with no further financial obligations. Completion of CureVac's GMP IV manufacturing plant for the production mRNA-based vaccines

is unaffected and progressing. Contingent upon regulatory approval, the facility is expected to be certified in the second half of 2024.

Strategic Collaborations

In April 2024, CureVac entered into a

strategic co-development and licensing agreement with The University of Texas MD Anderson Cancer Center, one of the world's leading

academic oncology centers. The collaboration centers on the joint development of novel, off-the-shelf mRNA-based cancer vaccine candidates

in selected hematological and solid tumor indications with high unmet medical need. It creates strong synergies between CureVac's

unique end-to-end capabilities for cancer antigen discovery, mRNA design, and manufacturing and MD Anderson's world-class expertise

in cancer antigen discovery and validation, translational drug development, and clinical research.

Both parties will contribute to the identification

of differentiated cancer antigens based on whole genome sequencing, combined with long- and short-read RNA-sequencing and cutting-edge

bioinformatics. Joint preclinical validation of the highest-quality cancer antigens and subsequent selection of promising clinical lead

candidates is expected to be followed by initial Phase 1/2 studies in appropriate clinical indications.

Under the terms of the agreement, CureVac has

worldwide exclusive rights to late-stage development, commercialization, or partnering of the candidates. MD Anderson is eligible for

downstream payments based on potential future commercialization.

Corporate Development

was appointed to the CureVac Management Team as Chief Business Officer effective June 1, 2024. Mr. Ramanayake has more than 15 years

of international experience in biopharma company development and deal-making. He has built a strong track record of successful clinical

collaborations, M&A, asset in-licensing and strategic financing initiatives as well as deep expertise in the fields of immunology

and oncology. His focus will be on business strategies to accelerate CureVac's pipeline, mature the organization, and enable further

strategic partnerships.

Mr. Ramanayake joins

CureVac from Affini-T Therapeutics, where he served as Chief Business Officer and was responsible for creating the company's business

development organization. He previously served as Vice President and Global Head of Business Development in Oncology at Sanofi, where

he established the Clinical Trial Supply Agreement Center of Excellence and negotiated collaborations valued in the hundreds of millions

to billions of dollars. He also held positions at BioMarin Pharmaceuticals where he in-licensed numerous gene therapy and oligonucleotide-based

assets in hearing loss, cardiology, neurology and other therapeutic areas, and at Amgen, where he negotiated a number of international

commercialization agreements.

Mr. Ramanayake holds

a master's degree in immunology from the University of Rochester and an MBA in Finance from the University of Rochester Simon School

of Business. He holds a bachelor's degree in cellular, molecular and systems biology.

Prophylactic Vaccines

Second-Generation mRNA Vaccine Program, Jointly Developed with GSK

CureVac continues to advance its clinical development

programs in prophylactic vaccines in collaboration with GSK. All currently tested candidates apply modified mRNA and are based on CureVac's

proprietary second-generation mRNA backbone, targeting improved intracellular mRNA translation for early and strong immune responses.

Avian Flu (H5N1) Program

Start of the Phase 1 part of a combined Phase

1/2 study of an investigational influenza A (H5N1) pre-pandemic vaccine candidate was announced on April 24, 2024. The H5N1 avian flu

virus is considered a potential future pandemic threat, known to sporadically cross species from its original bird host to other animals

and humans. The study represents the latest program progressing to clinical trials under the broad infectious disease collaboration agreement

with GSK, first announced in July 2020. It assesses the safety, reactogenicity and immunogenicity of a monovalent vaccine candidate based

on CureVac's proprietary second-generation mRNA backbone, encoding an influenza A H5-antigen. In the initial Phase 1 dose-escalation

part of the study, up to five dose levels will be assessed compared to a placebo control in healthy younger adults aged 18 to 64 and

healthy older adults aged 65 to 85.

Seasonal Flu Program

In the ongoing Phase

2 part of the combined 1/2 study in seasonal flu, CureVac reported promising data from a planned interim analysis on April 4, 2024.

The Phase 2 part assessed the reactogenicity, safety, and immunogenicity of a potentially differentiated, multivalent vaccine candidate

in 960 healthy younger and older adults. The candidate was tested in comparison to age-matched licensed comparator vaccines, which featured

a standard dose seasonal vaccine for younger adults and a high dose seasonal vaccine for older adults. It encodes antigens matched to

all four WHO recommended flu strains and was selected from a comprehensive Phase 1 part, which tested mRNA vaccine candidates with up

to eight separate mRNA constructs per candidate.

The vaccine candidate

was shown to have an acceptable safety and tolerability profile, confirming previous findings that CureVac's mRNA platform elicits

strong overall antibody titers at well-tolerated dose levels. It boosted antibody titers against all encoded flu strains and across all

age groups and tested dose levels. Among younger and older adults, geometric mean titers generated by the vaccine candidate against influenza

A strains numerically exceeded the geometric mean titers of the licensed comparator vaccines across all tested dose levels. For influenza

B strains, geometric mean titers were lower than those elicited by the licensed comparator vaccines, in line with expectations and other

initial mRNA-based clinical flu development programs. Further optimizations to enhance immune responses against influenza B strains will

be tested in an additional Phase 2 study.

On January 5, 2024, CureVac reported positive

results from the planned interim analysis of the ongoing Phase 2 study in COVID-19. The study assessed the safety and immunogenicity

of two modified mRNA COVID-19 vaccine candidates: the monovalent candidate, CV0601, encoding the spike protein of the omicron BA.4-5

variant and the bivalent candidate, CV0701, encoding the spike proteins of the omicron BA.4-5 variant and the original SARS-CoV-2 strain.