BioNTech Acquires China's Biotheus for $800 Million to Enhance Cancer Drug Development

The acquisition aims to bolster BioNTech's oncology strategy with a focus on the promising bispecific antibody BNT327/PM8002.

BioNTech will pay $800 million, primarily in cash, for 100% ownership of Biotheus, with additional milestone payments up to $150 million.
The acquisition grants BioNTech full global rights to BNT327/PM8002, a bispecific antibody targeting PD-L1 and VEGF-A, excluding Greater China.
BNT327/PM8002 has shown promising results in clinical trials, treating over 700 patients with various tumor types.
BioNTech plans to conduct multiple registrational trials for BNT327/PM8002 in 2024 and 2025, including studies on breast cancer.
The deal is set to close in the first quarter of 2025, expanding BioNTech's presence in China with a new R&D hub.