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Germany's BioNTech to buy Chinese firm with promising cancer drug
Germany pharmaceutical company BioNTech, which shot to global prominence after its early coronavirus vaccine, has boosted its cancer drug development by agreeing to buy Chinese firm Biotheus. The Mainz-based group said in a statement on Wednesday it will pay up to $950 million,
BioNTech strikes $950mn deal for Chinese drugmaker Biotheus
BioNTech will make $800mn in upfront payments to Biotheus, a drugmaker based in Guangdong province, with milestone payments of up to $150mn. Uğur Şahin, chief executive of BioNTech, said the company believed that the Biotheus drug “has the potential to set a new standard of care in multiple oncology indications”.
BioNTech to Acquire Biotheus in $950 Million Deal
The tie-up will also expand BioNTech's footprint in China, giving it a local research and development hub for clinical trials, as well as a new biologics manufacturing facility and more than 300 Biotheus employees,
scmp.com
7h
Germany’s BioNTech buys China’s Biotheus in US$800 million push into cancer drugs
BioNTech
, the German developer of a widely used mRNA
vaccine
for the coronavirus, agreed to pay US$800 million (HK$6.24 ...
MM&M
13h
BioNTech spends $800M upfront to pick up China-based Biotheus
Over the summer,
BioNTech
released Phase 2 data on its mRNA
cancer
vaccine
in the works alongside Regeneron. The ...
Manchester Evening News on MSN
15h
The granddad whose own body is being 'trained' to kill off cancer in groundbreaking treatment
The
vaccines
take just weeks to make after
cancer
cells are taken from a patient. German biopharmaceutical company ...
4d
BioNTech Earns Upgrade From Goldman Sachs As Investment Thesis Shifts Toward Cancer Potential
Goldman Sachs upgrades BioNTech to Buy, highlighting the potential of its cancer drug BNT327 and forecasting strong future ...
FiercePharma
9d
BioNTech reports surprising COVID vaccine sales in Q3 but tempers expectations for annual sales
Despite the performance, the company expects to be at the lower end of its revenue guidance window for the year of between €2 ...
9d
on MSN
BioNTech Beats Expectations, Gives Update on Cancer Drugs
BioNTech SE reported a surprise profit in the third quarter, helped by solid sales of its variant-adapted Covid-19 vaccines.
BioSpace
9d
BioNTech Handily Beats Q3 Expectations, Trims Full-Year Revenue Guidance
Driven by the early approval of its updated COVID-19 vaccine, BioNTech far exceeded analysts’ expectations in the third ...
7d
BioNTech Q3 Earnings Review: Good Quarter, Strong Promise -- But Still A Hold
Despite the potential in oncology, BNTX's current valuation is high relative to its non-COVID revenue prospects, warranting a ...
9d
BioNTech Variant-adapted COVID-19 Vaccines Do Well In Q3
On Monday, BioNTech SE (NASDAQ:BNTX) reported third-quarter revenues of 1.244 billion euros (or $1.36 billion), up from 895.3 ...
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