BioNTech AG received $270 million funding for a drug development

| By | Cancer Drugs, Drug Development, Investments

BioNTech AG, a fully-integrated German biotechnology company pioneering individualized cancer immunotherapy, announced it has completed a $270 million Series A round of financing.

The Series A round was led by the Redmile Group and joined by Janus Henderson Investors, Invus, Fidelity Management & Research Company and several European family offices. The Struengmann Family Office, an existing investor in BioNTech, also participated in the capital raise.

BioNTech will use the capital to further advance its clinical pipeline of individualized immunotherapies covering a number of new approaches including mRNA and CAR-T / T-Cell receptors for the treatment of cancer and other diseases with high medical need.

Helmut Jeggle, Chairman of BioNTech, commented: “Our aim is to continually broaden our investor base in order to include other like-minded long-term investors from around the world.”

“This financing round is an important milestone that contributes to our continued global expansion as an individualized cancer company,” added Prof. Ugur Sahin, co-founder and CEO of BioNTech. “Our investors share our ceaseless passion to transform the treatment of cancer and other diseases with precise, individualized immunotherapies.”

BioNTech is Europe’s largest privately held biopharmaceutical company pioneering the development of individualized therapies for cancer and other diseases. The company combines all building blocks for individualized immunotherapy under one roof – from diagnostics and drug development to manufacturing. Its cutting-edge technologies range from individualized mRNA-based medicines through innovative chimeric antigen receptors and T-cell receptor-based products to novel checkpoint immunomodulators. BioNTech’s approach is validated by five top-tier corporate partnerships with Genentech, Genmab, Eli Lilly and Company, Sanofi and Bayer Animal Health.

SOURCE: globenewswire
GMP news
Pharmaceutical industry News and events. Technology transfer and contract manufacturing of medicines.