New record for BioNTech
Once again, the Mainz-based company BioNTech has secured a sum in the hundred-million-euro range. Two thirds of the capital was contributed by new investors.
With the largest financing round ever successfully completed by a German biotech company, BioNTech SE surpasses its own record of January 2018, today announcing the completion of an oversubscribed financing round of €290 million ($325 million). BioNTech only raised 225 million euros (around 270 million US dollars) from investors at the beginning of 2018.
The financing to date has enabled BioNTech to test seven product candidates in eight ongoing clinical trials and to acquire a second GMP production license for the manufacture of its individualized neoantigen-specific immunotherapies. The Company recently expanded its antibody pipeline by acquiring a Phase I/IIa program in pancreatic cancer from MabVax Therapeutics Inc. In addition, BioNTech secured access to another formulation technology for the targeted delivery of therapeutic mRNA molecules into the liver by acquiring the antibody business of Munich-based MAB Discovery.
With the new funds, BioNTech intends to further expand its pipeline in the field of cancer medicine and support the development of its production infrastructure.
As a former winner of the GO-Bio competition, BioNTech has developed into one of the largest biopharmaceutical companies in Europe. The company's leading technologies range from individualized mRNA-based drug candidates and therapies based on innovative chimeric antigen or T cell receptors to novel checkpoint immunomodulators, targeted cancer antibodies and small molecule drugs.