BioNTech boosts AI credentials with half-billion-dollar acquisition
UK-based artificial intelligence (AI) firm InstaDeep is to be acquired by immunotherapy specialist BioNTech (Nasdaq: BNTX) for $440 million plus up to $243 million in milestone payments.
The German company, which like its partner Pfizer (NYSE: PFE) is flush with cash from sales of coronavirus vaccine Comirnaty, has been investing heavily in clinical and commercial development.
The latest move will see BioNTech take full advantage of InstaDeep’s AI and machine learning capabilities, and comes not long after an initial equity investment was made in the latter’s series B funding round.
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