BioNTech AG, a rapidly growing biotechnology company focused on precise immunotherapies for the treatment of cancer and infectious diseases, announced that it has entered into a multi-year research and development (R&D) collaboration with Pfizer to develop mRNA-based vaccines for prevention of influenza.
Under the terms of the agreement, BioNTech and Pfizer will jointly conduct research and development activities to help advance mRNA-based flu vaccines. Pfizer will assume sole responsibility for further clinical development and commercialization of mRNA-based flu vaccines, following BioNTech’s completion of a first in human clinical study.
BioNTech will receive $120 million in upfront, equity and near-term research payments and up to an additional $305 million in potential development, regulatory and commercial milestone payments. In addition, BioNTech will receive up to double-digit tiered royalty payments associated with worldwide sales if the program reaches commercialization.
Headquartered in Mainz (Germany), BioNTech AG 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 of 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 partners list includes top pharma companies like Genentech, Genmab, Eli Lilly, Sanofi, Bayer Animal Health and Pfizer.