VC firms back $325m series-B for BioNTech

Redmile Group, Invus, MiraeAsset Financial Group, Platinum Asset Management, Jebsen Capital, Steam Athena Capital, BVCF Management and the Struengmann Family Office all took part in the financing.

The funding round is the largest that Unquote Data has on record for a German biotechnology company and the second largest for a European biotech, behind a Softbank-led $1.1bn round for Switzerland-based Roivant Sciences in August 2017.

The fresh capital will be used to support the development of BioNTech's therapeutics pipeline and expand its manufacturing infrastructure.

Previous funding
In November 2008, AT Impf and MIG Fonds (via MIG Fonds 7) invested an undisclosed amount in the first round of funding for BioNTech.

Subsequently, US hedge fund Redmile led a $270m series-A funding round in 2018, with participation from Janus Henderson Investors, Invus, Fidelity and several European family offices.

BioNTech said the previous financings enabled it to advance a pipeline of seven product candidates in eight ongoing clinical trials.

Company
BioNTech is a privately held biopharmaceutical company that develops individualised immunotherapy treatments for cancer and other diseases. It has secured seven large corporate partnerships with Eli Lilly and Company, Genmab, Sanofi, Bayer Animal Health, Genentech, a member of the Roche Group, Genevant and Pfizer. The company is headquartered in Mainz and was founded in 2008; it employs 1,000 people.

People
BioNTech – Ugur Sahin, Christoph Huber (founders).

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• Topics
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