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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