Clinical-stage biotechnology company BioNTech announced a private investment of $250 million today, led by Temasek and other investors.
Clinical-stage biotechnology company BioNTech announced a private investment of $250 million today, led by Temasek and other investors.
“We are pleased to welcome Temasek onboard as a new shareholder,” said Ugur Sahin, CEO and co-founder of BioNTech, following the announcement. “We believe their long-term investment approach, global presence, and deep experience in the biotechnology field are a good fit with our vision to build a leading global biopharmaceutical company.”
This comes after BioNTech announced back on June 11 that the European Investment Bank had concluded a €100 million debt financing agreement to further the development of BNT162, its COVID-19 vaccine program.
Although BioNTech is primarily focused on next-generation immunotherapy treatments, it has entered the race for a COVID-19 vaccine as well. BNT162 is one of the broadest development programs being conducted globally, with four COVID-19 vaccine candidates being simultaneously tested.
Back on May 5, BioNTech announced with Pfizer that the first participants had been dosed in the U.S. as a part of the Phase I/II clinical trial for the BNT162 vaccine program. The Phase I/II study is designed to determine the safety, immunogenicity, and optimal dose level of the four mRNA vaccine candidates. Each candidate represents a different combination of mRNA format and target antigen.
“With our unique and robust clinical study program underway, starting in Europe and now the U.S., we look forward to advancing quickly and collaboratively with our partners at BioNTech and regulatory authorities to bring a safe and efficacious vaccine to the patients who need it most,” said Albert Bourla, Chairman and CEO of Pfizer, at the time of the announcement. “The short, less than four-month timeframe in which we’ve been able to move from pre-clinical studies to human testing is extraordinary and further demonstrates our commitment to dedicating our best-in-class resources, from the lab to manufacturing and beyond, in the battle against COVID-19.”
In anticipation of positive results stemming from the Phase I/II trial, Pfizer and BioNTech are also working to scale up production of a potential vaccine for global supply. Pfizer intends to activate its manufacturing network, while BioNTech directs its focus toward ramping up its production capacity.
Both BioNTech and Pfizer will work together to commercialize the vaccine globally upon regulatory approval. This is with the exception of China, where BioNTech already has a collaboration agreement with Fosun Pharma for BNT162 clinical development and commercialization.
“It is encouraging that we have been able to leverage more than a decade of experience in developing our mRNA platforms to initiate a global clinical trial in multiple regions for our vaccine program in such a short period,” said BioNTech’s Sahin, following the news. “We are optimistic that advancing multiple vaccine candidates into human trials will allow us to identify the safest, most effective vaccination options against COVID-19.”
Back in April, Pfizer announced its own five-point plan that it had developed to tackle COVID-19, which included its dedication to working with BioNTech. The company also said it was looking into anti-viral compound screening and examining existing medicines for critical patient populations in need.
“We are leaving no stone unturned as we explore every option to help provide society with a treatment or cure,” said Pfizer’s Bourla, earlier in April.
According to data released by Research and Markets on May 27, the global COVID-19 drugs market is projected to reach $2 million by 2025.
