BioNTech to invest up to $1.34bn in UK R&D
This will be backed by a government grant of up to £129m ($172m).
The grant is a strategic move by the government to bolster its life sciences industry, supporting the companies to unlock advances in the field.
Built upon a multi-year partnership with the UK government, initiated in January 2023, this agreement expedites trials of BioNTech's oncology pipeline product candidates.
It also focuses on widening the company's R&D presence and researching into areas such as regenerative medicine, infectious disease vaccines and structural biology.
BioNTech plans to set up two new R&D centres, with the first in Cambridge and the second at the planning phase.
The Cambridge centre will concentrate on oncology, structural biology, regenerative medicine and genomics, and will house more than 90 scientists.
The company is also setting up its UK headquarters in London, which will create new employment opportunities and host its AI hub spearheaded by subsidiary InstaDeep.
InstaDeep is a technology company focusing on machine learning and AI.
The AI Hub is crucial to BioNTech's research, enhancing AI-driven medical research.
These initiatives align with the company's worldwide strategy to develop cancer immunotherapies and bring several treatments to market by 2030.
BioNTech co-founder and CEO Uğur Şahin stated: 'This agreement marks the next chapter of our successful strategic partnership with the UK government. Together, we have already made a meaningful difference in expanding access to investigational personalised cancer therapies for patients.
'Now, we are taking the next step to accelerate and broaden our research and development efforts, advancing towards our vision to translate science into survival for patients.'
In July 2024, the UK's Medicines and Healthcare products Regulatory Agency (MHRA) authorised Pfizer-BioNTech's adapted Comirnaty vaccine for the JN.1 Covid-19 subvariant.
"BioNTech to invest up to $1.34bn in UK R&D" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
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