As spinout removes co-founders, BioNTech separates mRNA R&D from diverse pipeline

Investors disapproved of BioNTech’s decision to spin out a new mRNA company led by its co-founders Ugur Sahin and Özlem Türeci, shaving $5.6 billion from its market cap Tuesday.

The move will effectively decouple the maturing, diverse pipeline of BioNTech SE (NASDAQ:BNTX) from its earlier-stage R&D around next-generation mRNA therapies, with new management expected to succeed the two co-founders at BioNTech after they depart this year. Sahin is BioNTech’s CEO, and Türeci its CMO...