Benzinga | Aug 16, 2021 04:08PM EDT

Boehringer Ingelheim Scraps Lung Cancer Program With CureVac

* CureVac NV (NASDAQ:CVAC) disclosed among the COVID-19 vaccine highlights that (euro)465 million oncology partnership with Boehringer Ingelheim had been terminated.

* CureVac and Boehringer had been working to develop the mRNA cancer vaccine candidate since 2014, when CureVac received about (euro)35 million upfront and nearly (euro)430 million in promised milestones.

* Boehringer decided to pull the plug in June, and the termination will become effective this November.

* CVAC did say that a phase 1/2 test in NSCLC with BI1361849 as a combo therapy "is ongoing" and that both companies "are currently assessing options to continue a collaboration on CureVac's RNA technology platform based on state-of-the-art LNP-based formulations.

* Also, Monday, CureVac updated investors on progress for its mRNA-based COVID-19 vaccine efforts. Despite a Phase 3 study showing 48% efficacy for its first-generation shot, CureVac continues to push forward with regulatory efforts in Europe.

* The strategy is likely centered around individuals aged 18 to 60 because, by CureVac's admission, data did not support efficacy for pivotal trial participants older than 60.

* In the 18 to 60 age group, vaccine efficacy hit 53% against all disease severities and 77% efficacy.

* Meanwhile, CureVac is also gearing up efforts to get its second-generation COVID-19 shot into the clinic sometime before the end of 2021.

* In preclinical studies, the new generation candidate showed faster response onset, higher titers of antibodies, and stronger memory B and T cell activation than the first vaccine.

* CVAC closed Q2 with cash and cash equivalents of (euro)1.36 billion.

* Price Action: CVAC shares closed higher by 4.27% at $61.31 on Monday.