BioNTech Completes Acquisition of InstaDeep
July 31 2023 - 7:00AM
BioNTech Completes Acquisition of InstaDeep
- Acquisition aims to strengthen BioNTech’s pioneering position
in the field of AI-powered drug discovery, design and
development
- InstaDeep to operate as London based subsidiary of BioNTech and
will be the centerpiece of its growing portfolio of initiatives
around artificial intelligence and machine learning
- Approximately 290 highly skilled professionals and a global
network of research partners in the fields of artificial
intelligence, machine learning and data science based in the
world’s leading global technology hubs
MAINZ, Germany, July 31, 2023 –
BioNTech SE (Nasdaq: BNTX, “BioNTech” or “the Company”)
announced today the completion of the acquisition of InstaDeep
Ltd. (“InstaDeep”), 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.
About BioNTechBiopharmaceutical
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, please visit www.BioNTech.com.
BioNTech Forward-Looking
StatementsThis press release contains “forward-looking
statements” of BioNTech within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may include, but may not be limited to, statements
concerning: the expected impact of this acquisition on BioNTech’s
and InstaDeep’s business; the creation of long-term value for
BioNTech and InstaDeep shareholders; potential synergies between
BioNTech and InstaDeep and their businesses; the ability of the
DeepChain™ protein design platform to engineer new mRNA sequences
for protein targets; the ability of AI and ML to quicken and scale
up the delivery of next generation of diagnostics and therapeutics;
the ability of ML and edge analytics to identify novel predictive
biomarkers, inform patient selection, and accelerate the
development of therapeutic programs; the ability to utilize AI and
ML applications to further optimize manufacturing and supply chain
processes, including by using robotics and autonomous
decision-making; the eligibility of InstaDeep shareholders to
receive additional milestone payments; and InstaDeep’s plans to
continue to provide services to clients around the world in diverse
industries. Any forward-looking statements in this press release
are based on BioNTech’s current expectations and beliefs of future
events, and are subject to a number of risks and uncertainties that
could cause actual results to differ materially and adversely from
those set forth in or implied by such forward-looking statements.
These risks and uncertainties include, but are not limited to: the
reaction to the transaction of InstaDeep’s business partners; the
reaction of competitors to the transaction; the retention of
InstaDeep employees; BioNTech’s plans for InstaDeep; the future
growth of InstaDeep’s and BioNTech’s businesses and the possibility
that integration following the transaction may be more difficult
than expected; the risk that InstaDeep’s collaborations will not
continue or will not be successful; risks related to InstaDeep’s
ability to protect and maintain InstaDeep’s intellectual property
position; risks related to InstaDeep’s capital requirements, use of
capital and unexpected expenditures, including InstaDeep’s ability
to manage operating expenses or obtain funding to support planned
business activities or to explore and establish strategic
transactions; risks related to InstaDeep’s ability to attract and
retain personnel; and the ability of AI and ML to produce
improvements in the drug discovery and development process or
deliver efficiencies in drug manufacturing, logistics and supply
chain.
For a discussion of these and other risks and
uncertainties, see BioNTech’s Quarterly Report on Form 6-K for the
quarter ended March 31, 2023, filed with the U.S. Securities and
Exchange Commission (“SEC”) on May 8, 2023, which is available on
the SEC’s website at www.sec.gov. All information in this press
release is as of the date of the release, and BioNTech undertakes
no duty to update this information unless required by law.
About InstaDeepInstaDeep is a
leader in decision-making AI systems with headquarters in London,
and offices in Paris, Tunis, Lagos, Dubai, Cape Town, Berlin,
Boston and San Francisco. InstaDeep was founded in 2014 in North
Africa and has been named for three consecutive years to CB
Insights’ influential AI 100 ranking, which showcases the 100 most
innovative private artificial intelligence companies in the world.
It was also named in 2022 as one of Europe’s 100 most promising B2B
companies by the Financial Times-backed media site Sifted. With
expertise in both machine intelligence research and concrete
business deployments, InstaDeep gives its partners a competitive
advantage in an AI-first world. Leveraging its extensive know-how
in GPU-accelerated computing, deep learning and reinforcement
learning, InstaDeep products, such as its DeepChainTM protein
design platform, tackle the most complex challenges across a range
of industries. InstaDeep has also developed collaborations with
global leaders in the AI ecosystem, such as Nvidia and Google Cloud
and has published joint research with DeepMind.
CONTACTS
BioNTech:
Media RelationsJasmina Alatovic+49 (0)6131 9084
1513Media@biontech.de
Investor RelationsVictoria Meissner, M.D.+1 617 528
8293Investors@biontech.de
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