On Wednesday, BioNTech SE BNTX agreed to amass Biotheus, a clinical-stage biotechnology firm centered on discovering and creating antibodies for oncological or inflammatory illnesses.
With the acquisition, BioNTech will receive full world rights to the late-stage medical asset BNT327/PM8002, an investigational bispecific antibody focusing on PD-L1 and VEGF-A.
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BioNTech pays Biotheus an upfront consideration of $800 million, predominantly in money, with a small portion in American depositary shares, plus extra performance-based contingent funds of as much as $150 million if sure milestones are met.
The transaction is anticipated to shut within the first quarter of 2025.
The acquisition follows an preliminary unique world license and collaboration settlement between BioNTech and Biotheus, which closed in November 2023.
The settlement granted BioNTech the rights to develop, manufacture, and commercialize BNT327/PM8002 globally ex-Larger China.
The transaction is a part of BioNTech’s oncology technique, which goals to boost the corporate’s capabilities to analysis, develop, and commercialize mixture therapies utilizing BNT327/PM8002.
“The acquisition of Biotheus builds on our profitable ongoing collaboration on BNT327/PM8002 and different investigational bispecific antibodies,” mentioned Ugur Sahin, CEO and co-founder of BioNTech.
“We consider that BNT327/PM8002 has the potential to set a brand new customary of care in a number of oncology indications, surpassing conventional checkpoint inhibitors,” Sahin added.
BNT327/PM8002 has proven encouraging efficacy and tolerability in sufferers throughout numerous tumor sorts, with greater than 700 sufferers handled in medical trials thus far.
A number of registrational trials are deliberate to start out in 2024 and 2025, evaluating BNT327/PM8002 plus chemotherapy in numerous strong tumor indications, together with in sufferers with small, non-small, and triple-negative breast most cancers.
Further trials will discover combining BNT327/PM8002 and BioNTech’s proprietary antibody-drug conjugates.
Upon closing, BioNTech will achieve full rights to Biotheus’ pipeline candidates and its in-house bispecific antibody-drug conjugate functionality.
The acquisition will develop BioNTech’s footprint in China, including an area analysis and growth hub to conduct medical trials.
Final week, BioNTech reported third-quarter revenues of 1.244 billion euros (or $1.36 billion), up from 895.3 million euros a yr in the past.
The upper revenues within the third quarter had been largely attributed to the sooner approvals obtained for its variant-adapted COVID-19 vaccines in comparison with final yr.
Value Motion: BNTX inventory is up 5.87% at $112.57 on the final verify on Wednesday.
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