BioNTech Boosts Oncology Strategy With $800 Million+ China-Based Biotheus Acquisition [Yahoo! Finance]
Sanofi - American Depositary Shares (SNY)
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Source: Yahoo! Finance
With the acquisition, BioNTech will obtain full global rights to the late-stage clinical asset BNT327/PM8002, an investigational bispecific antibody targeting PD-L1 and VEGF-A. Also Read: BioNTech Earns Upgrade From Goldman Sachs As Investment Thesis Shifts Toward Cancer Potential BioNTech will pay Biotheus an upfront consideration of $800 million, predominantly in cash, with a small portion in American depositary shares, plus additional performance-based contingent payments of up to $150 million if certain milestones are met. The transaction is expected to close in the first quarter of 2025. The acquisition follows an initial exclusive global license and collaboration agreement between BioNTech and Biotheus, which closed in November 2023. The agreement granted BioNTech the rights to develop, manufacture, and commercialize BNT327/PM8002 globally ex-Greater China. The transaction is part of BioNTech's oncology strategy, which aims to enhance the company's capabilities to r
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