- Funds will support BioNTech’s research and development of cancer treatments
- Financing by EU bank is provided under Investment Plan for Europe, or Juncker Plan
The European Investment Bank (EIB) and BioNTech SE (NASDAQ: BNTX, “BioNTech” or “the Company”) announced today the signing of a contract which provides financing of EUR 50 million to BioNTech SE, an international clinical-stage biotechnology company focused on patient-specific immunotherapies for the treatment of cancer and other serious diseases. BioNTech will use the funds for the research and development, market access and manufacturing development for its most advanced treatments under development.
The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe – the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
EIB Vice-President, Ambroise Fayolle, who is responsible for EFSI and operations in Germany, said: “BioNTech focuses on patient-specific immunotherapies for the treatment of cancer and beyond. This approach is highly innovative as it combines ground-breaking research with cutting-edge technologies. For the EIB, in particular with the support of the Juncker-plan, it is a top priority to support investment that is geared towards innovation and greater competitiveness. I therefore very much welcome our cooperation with BioNTech, as the company is driven to become the leading global biotechnology company for individualized cancer medicine, with the headquarters based in the heart of Europe.”
European Commissioner for the Economy, Paolo Gentiloni, said: “The Investment Plan for Europe has a strong track record in supporting innovative biotech companies researching new therapies for serious diseases. The EIB’s €50 million in financing will allow BioNTech to take on more highly-specialized staff and push forward the research and development of treatments that could prove to be life-saving.”
BioNTech’s CFO, Dr. Sierk Poetting said: “We see the funding of the European Investment Bank as a token of trust in BioNTech as a innovative, and fast growing company. We aim to build a global biotechnology leader. Our focus is to develop and commercialize the next generation of immunotherapies, as we aspire to individualize cancer medicine. We have always placed a significant emphasis on a fully integrated business model including our own manufacturing and production as we want to ensure a high-quality and fast treatment production. The EIB’s funding will increase the production capacities for our mRNA-based product candidates and also create new jobs.”
BioNTech was founded in 2008 on the understanding that every cancer patient’s tumor is unique and therefore each patient’s treatment should be individualized. Its cutting-edge pipeline includes individualized mRNA-based product candidates, innovative chimeric antigen receptor T cells, novel checkpoint immunomodulators, targeted cancer antibodies and small molecules. BioNTech has established relationships with seven pharmaceutical collaborators, including Eli Lilly and Company, Genmab, Sanofi, Bayer Animal Health, Genentech, a member of the Roche Group, Genevant and Pfizer, and has published over 150 peer-reviewed publications on its scientific approach.