BioNTech SE, a Mainz, Germany-based clinical-stage biotechnology company focused on patient-specific immunotherapies for the treatment of cancer and other serious diseases, completed a USD$325m Series B financing round.
The fundraising – upsized – was led by Fidelity Management & Research Company with participation from Redmile Group, Invus, MiraeAsset Financial Group, Platinum Asset Management, Jebsen Capital, Steam Athena Capital, BVCF Management and the Struengmann Family Office.
The company intends to use the proceeds for the continued advancement of its therapeutics pipeline and manufacturing infrastructure.
Founded in 2008 and led by Prof. Ugur Sahin, CEO, BioNTech has developed a pipeline that includes individualized mRNA-based product candidates, innovative chimeric antigen receptor T cells, novel checkpoint immunomodulators, targeted cancer antibodies and small molecules. The company’s product development approach has been validated by seven collaborations with, in chronological order, Eli Lilly and Company, Genmab, Sanofi, Bayer Animal Health, Genentech, a member of the Roche Group, Genevant and Pfizer, and its scientific approach through over 150 peer-reviewed scientific publications.
The funding follows the Series A financing of USD$270m announced in January 2018, led by Redmile Group. The previous rounds have enabled BioNTech to advance a pipeline of seven product candidates in eight ongoing clinical trials, to establish a second GMP manufacturing license for production of its individualized neoantigen specific immunotherapies and to expand its antibody platform, most recently, through the acquisition of a Phase I/IIa program against pancreatic cancer from MabVax Therapeutics Inc.
In conjunction with the MabVax Therapeutics acquisition of assets, the company has also recently established its US research and development facility in San Diego, California.