By Colin Kellaher

German biotechnology company BioNTech AG on Friday said it will receive an equity investment of 80 million euros ($91 million) from Sanofi SA (SAN.FR, SNY) as it extends a 2015 research collaboration with the French drug maker.

BioNTech also said it has agreed with Sanofi to co-develop the first cancer immunotherapy candidate from the collaboration, which is entering clinical testing in multiple solid tumors.

BioNTech, which is developing individualized immunotherapies to treat cancer and prevent infectious diseases, in November 2015 announced the deal with Sanofi that included a $60 million upfront payment and potential further payments topping $300 million per product.

The Mainz, Germany, biotechnology company last year formed a multi-year collaboration with Pfizer Inc. (PFE) to develop messenger-RNA-based flu vaccines that included $120 million in upfront payments and up to $305 million in potential milestone payments.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 04, 2019 06:37 ET (11:37 GMT)

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