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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER