Largest biotech IPO around the corner
Rumors have it that BioNTech is preparing for an IPO on the US technology exchange Nasdaq. According to Reuters, the company has entrusted two US banks with the preparations.
News agency Reuters cites well-informed sources that BioNTech has named the investment banks Bank of America and JP Morgan as coordinators for the Nasdaq IPO. Reuters says the timeframe is the fourth quarter of 2019 to the beginning of 2020, and that BioNTech's current value is 4 billion US-dollars (EUR 3.5 billion). The IPO would enable the Mainz-based company to raise up to 800 million US dollars in fresh capital. The largest biotech IPO worldwide to date was that of Moderna Inc., which raised 604 million US-dollars at the end of 2018.
In January 2018, BioNTech raised 225 million euros (270 million US-dollars) in a Series A financing round. This was the largest financing round ever for a German biotech company. At that time, the company was valued at 2.3 billion US-dollars.
Founded in 2008, BioNTech is the largest unlisted biopharmaceutical company in Europe. The focus is on individualized immunotherapies against cancer and other diseases. The company, which now employs around 850 people, combines all important disciplines of individualized immunotherapy under one roof - from diagnostics and drug development to production.