BioNTech Completes Acquisition of InstaDeep
BioNTech SE recently announced the completion of the acquisition of InstaDeep Ltd., a leading global technology company in the field of artificial intelligence (AI) and machine learning (ML). The acquisition was announced on January 10, 2023, and follows a track record of increasing collaboration between the two companies since 2019 as well as BioNTech’s initial equity investment as part of InstaDeep’s Series B financing round in January 2022.
The acquisition supports BioNTech’s strategy, aiming to build world-leading capabilities in AI-driven drug discovery and development of next-generation immunotherapies and vaccines to address diseases with high unmet medical need. InstaDeep will operate as a UK-based global subsidiary of BioNTech. In addition to BioNTech-focused projects, InstaDeep will continue to provide its services to clients around the world in diverse industries, including in the Technology, Transport & Logistics, Industrial, and Financial Services sectors. The transaction adds approximately 290 highly skilled professionals to BioNTech’s workforce, including teams in AI, ML, bioengineering, data science, and software development.
The total consideration to acquire the remaining InstaDeep shares, excluding the shares already owned by BioNTech, amounts to approximately €500 million in cash, BioNTech shares, and performance-based future milestone payments.
Biopharmaceutical New Technologies is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. BioNTech exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. Its broad portfolio of oncology product candidates includes individualized and off-the-shelf mRNA-based therapies, innovative chimeric antigen receptor T cells, bispecific immune checkpoint modulators, targeted cancer antibodies and small molecules. Based on its deep expertise in mRNA vaccine development and in-house manufacturing capabilities, BioNTech and its collaborators are developing multiple mRNA vaccine candidates for a range of infectious diseases alongside its diverse oncology pipeline. BioNTech has established a broad set of relationships with multiple global pharmaceutical collaborators, including Duality Bio, Fosun Pharma, Genentech, a member of the Roche Group, Genevant, Genmab, OncoC4, Pfizer, Regeneron and Sanofi. For more information, visit www.BioNTech.com.
Total Page Views: 1382
