BioNTech in line for up to 375 million euros from German government

15 September 2020

German company BioNTech (Nasdaq: BNTX) was trading 2% higher in early market activity on Tuesday.

The firm announced that it will receive a grant of up to 375 million euros ($445 million) from an initiative by the German Federal Ministry of Education and Research (BMBF) to support the accelerated development of SARS-CoV-2 vaccines.

"An important contribution to accelerate the development and scaling-up of our COVID-19 vaccine manufacturing capacities in Germany"BioNTech will use the milestone-based BMBF funding to support its contribution to the company’s mRNA vaccine program BNT162 that is being co-developed with its partners Pfizer (NYSE: PFE) and Fosun Pharma (SHA: 600196), respectively.

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