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Pharma: Biontech plans largest takeover in its company history

Pharma: Biontech plans largest takeover in its company history

Artificial intelligence is becoming increasingly important in research. This also applies to the search for effective immunotherapies. Biontech wants to strengthen itself in this area.

The pharmaceutical company Biontech wants to take over a British start-up specializing in artificial intelligence. With a planned upfront payment of around 362 million pounds (410 million euros) in cash and Biontech shares, the takeover of InstaDeep would be the largest in the company’s history to date, as the Mainz-based company announced.

The intended takeover will expand the workforce by around 240 specialists and open up access to a global network of research partners in the fields of artificial intelligence, machine learning and data science.

According to the information, there is already a multi-year strategic partnership between the two companies; Biontech already holds InstaDeep shares. In addition to the £362m, InstaDeep shareholders are set to receive performance-based payments totaling up to £200m.

The planned acquisition will enable Biontech to establish “fully integrated, company-wide capacities for the research, design and development of next-generation immunotherapies on a large scale,” explained the company, which has become known primarily for its corona vaccine.

Completion of the acquisition in the first half of the year

After the takeover, InstaDeep will operate worldwide as a Biontech subsidiary and will remain based in London. The acquisition is expected to close in the first half of this year, subject to regulatory approval. According to InstaDeep, it was founded in 2014 and has offices in Paris, Tunis, Lagos, Dubai and Cape Town.

The planned takeover underscores the increasing importance of Great Britain for Biontech. Only a few days ago it became known that the Mainz-based company wants to set up a research and development center for cancer therapy there. The aim is to treat up to 10,000 patients with personalized cancer immunotherapies by 2030 – either as part of clinical studies or as approved treatments.

Source: Stern

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