Mergers & AcquisitionsBy The Online Investor Staff, updated Sun., Jan. 29, 6:09 PM
|This Slide: #90 of 100|
Slide #90. BioNTech SE — InstaDeep Ltd.
BioNTech SE (NASDAQ:BNTX)
BioNTech SE (Nasdaq: BNTX, "BioNTech") and InstaDeep Ltd. ("InstaDeep") today announced that they have entered into an agreement under which BioNTech will acquire InstaDeep, a leading global technology company in the field of artificial intelligence ("AI") and machine learning ("ML"). The transaction includes a total upfront consideration of approximately 362 million in cash and BioNTech shares to acquire 100% of the remaining InstaDeep shares, excluding the shares already owned by BioNTech. In addition, InstaDeep shareholders will be eligible to receive additional performance-based future milestone payments up to approximately 200 million. The transaction follows BioNTech's initial equity investment as part of InstaDeep's Series B financing round in January 2022.
BioNTech develops immunotherapies for cancer and other diseases. Co.'s immunotherapy product candidates span the following four drug classes: messenger ribonucleic acid (mRNA) therapeutics, in which it is utilizing mRNA to deliver genetic information to cells; cell therapies, in which it is developing a range of cell therapies, including chimeric antigen receptorT cells, neoantigen-based T cell therapies and T cell receptor therapies; antibodies, in which it is developing antibodies that are designed to target immune checkpoints that modulate the patient's immune response to cancer; and small molecule immunomodulators, which is for the treatment of solid tumors in clinical testing.
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Buy (3.11 out of 4)