BioNTech Raises $270M in Series A to Fund its Personalised I-O Work
German Biotech, BioNTech, has now reportedly wrapped off a $270M ‘A’ round designed to complete the rapid ramp-up of its considerable manufacturing operations as it looks to advance an early-stage personalized mRNA cancer vaccine designed to mob the antigens of individual patients.
The Series A round was led by the Redmile Group and joined by Janus Henderson Investors, Invus, Fidelity Management & Research Company and several European family offices. The Struengmann Family Office, an existing investor in BioNTech, also participated in the capital raise.
The individualized vaccine uses so-called messenger RNA to carry code for making mutated proteins that are specific to a patient’s tumor, prompting specialist T-cells to step up their attack on cancer cells.
BioNTech will use the capital to further advance its clinical pipeline of individualized immunotherapies covering a number of new approaches including mRNA and CAR-T / T-Cell receptors for the treatment of cancer and other diseases with high medical need.
“This financing round is an important milestone that contributes to our continued global expansion as an individualized cancer company,” added Prof. Ugur Sahin, co-founder and CEO of BioNTech. “Our investors share our ceaseless passion to transform the treatment of cancer and other diseases with precise, individualized immunotherapies.
”Mike Lee, Co-Founder and Portfolio Manager at Redmile Group, LLC, added: “BioNTech is building an impressive immunotherapy pipeline based on compelling scientific validation. Together with the company’s leadership position in providing individualized immunotherapies specific to a patient’s tumor, we are excited to partner with BioNTech to help accelerate the development of their broad and unique portfolio of cancer therapies.”
