Express Pharma

BioNTech buys InstaDeep

BioNTech is to pay 362 million pounds upfront, in a mix of cash and an unspecified number of BioNTech shares, and up to 200 million pounds contingent on InstaDeep’s future performance

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BioNTech has agreed to acquire the British Artificial Intelligence (AI) startup InstaDeep for up to 562 million pounds ($682 million) to speed up its biotech research beyond COVID shots.

BioNTech is to pay 362 million pounds upfront, in a mix of cash and an unspecified number of BioNTech shares, and up to 200 million pounds contingent on InstaDeep’s future performance, it said yesterday.

The transaction adds to a slew of deals as the industry meets in San Francisco for the annual JP Morgan healthcare conference this week.

With estimated COVID-19 vaccine revenues of up to 17 billion euros ($18.2 billion) in 2022 alone, BioNTech is