China’s Biotheus Inc. has entered into a definitive acquisition agreement with Germany-based BioNTech SE (NASDAQ: BNTX), marking a significant expansion of BioNTech’s operations in China. The deal underscores BioNTech’s commitment to enhancing its research and development capabilities and production capacity in the region.
Deal Terms and Financials
Under the agreement, BioNTech will pay Biotheus shareholders an upfront consideration of USD 800 million, primarily in cash, with a minor portion in American depositary shares (ADS). This acquisition is subject to customary purchase price adjustments and includes additional performance-based contingent payments of up to USD 150 million, contingent on achieving certain milestones.
Enhancing BioNTech’s Portfolio and Capabilities
Upon closing, BioNTech will gain full rights to Biotheus’ pipeline candidates and its in-house bispecific antibody drug conjugate technology. This acquisition significantly bolsters BioNTech’s business presence in China, with Biotheus’ Zhuhai unit set to operate as the BioNTech China R&D center. The Nantong production plant, aligned globally, will support BioNTech’s worldwide product production and supply chain. Over 300 Biotheus employees specializing in R&D, manufacturing, and enabling functions are expected to join BioNTech’s workforce, further enriching its talent pool.
Building on an Existing Partnership
This transaction builds upon an existing partnership established in November 2023, where BioNTech was granted global development, manufacturing, and commercialization rights to PM8002/BNT327, a PD-L1/VEGF-A bispecific antibody developed by Biotheus, outside of Greater China. The acquisition now gives BioNTech complete global rights to the drug, solidifying its position in the biopharmaceutical industry.-Fineline Info & Tech
Leave a Reply