Uğur Şahin, BioNTech CEO (Andreas Arnold/picture-alliance/dpa/AP Images)

BioN­Tech buys out AI part­ner In­staDeep for $440M in bid to be­come ‘tech­nol­o­gy com­pa­ny’

Pan­dem­ic vac­cine star BioN­Tech is buy­ing out the re­main­der of its ar­ti­fi­cial in­tel­li­gence part­ner In­staDeep for an ini­tial cash and stock con­sid­er­a­tion of about £362 mil­lion, or $440 mil­lion.

CEO Ugur Sahin said the ac­qui­si­tion will help “make BioN­Tech a tech­nol­o­gy com­pa­ny where AI is seam­less­ly in­te­grat­ed in­to all as­pects of our work.”

The Ger­many-based drug de­vel­op­er is the fourth Eu­ro­pean biotech this week to ink an ac­qui­si­tion, but the on­ly to con­sume an­oth­er com­pa­ny on its own con­ti­nent. Chiesi, As­traZeneca and In­cyte all snapped up Amer­i­can coun­ter­parts to set the M&A rhythm for the an­nu­al JP Mor­gan Health­care Con­fer­ence.

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