ARTICLE | Deals
BioNTech buys AI partner InstaDeep, with which it detected high-risk COVID-19 variants
German biotech pays £362 million up front for balance of machine learning company; had already invested in its series B
January 10, 2023 6:18 PM UTC
Building on years of collaboration, BioNTech is acquiring InstaDeep, the artificial intelligence company with which it rapidly identified hazardous SARS-CoV-2 variants months before global health authorities designated them as high-risk.
mRNA vaccine developer BioNTech SE (NASDAQ:BNTX) first partnered with InstaDeep Ltd. in 2019, and invested in its $100 million series B round in January 2022. The company is now paying £362 million ($440.1 million) in cash and stock to acquire the remainder of InstaDeep’s shares; milestones could add another £200 million in payouts to its shareholders...