BioNTech signs agreement to acquire Biotheus to enhance tumor treatment capabilities
Date
11/14/2024 2:13:34 AM
(MENAFN) BioNTech, the German pharmaceutical company, announced on Wednesday that it has reached an agreement to acquire Biotheus, a Chinese biotechnology firm, for USD800 million. The deal aims to strengthen BioNTech’s tumor treatment capabilities. Additionally, BioNTech has agreed to pay up to USD150 million in milestone payments, depending on the achievement of certain targets. The Acquisition is expected to close in the first quarter of next year, pending regulatory approvals.
Biotheus is known for developing innovative antibody solutions tailored to patients with unique medical conditions and diseases. As part of the acquisition, BioNTech will gain the rights to Biotheus' investigational bispecific antibody, BNT327/PM8002, which will play a key role in BioNTech’s oncology strategy. This antibody targets two critical proteins: PD-L1, which is found in large quantities on tumor cells, and VEGF-A, a protein crucial for the formation of blood vessels.
The BNT327/PM8002 antibody works by enhancing the immune system's T cells, enabling them to recognize and destroy tumor cells. It also disrupts blood and oxygen supply to the tumors, effectively halting their growth. This approach could significantly improve the effectiveness of cancer treatments by targeting both the tumor cells and the mechanisms that support their growth.
Through this acquisition, BioNTech aims to expand its research and therapeutic offerings, particularly in oncology. The deal also strengthens BioNTech’s presence in China, as it will acquire an advanced biologics manufacturing plant as part of the transaction, furthering its reach in the global biotechnology market.
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