BioNTech Acquires Biotheus for $800 Million

BioNTech SE has announced its acquisition of Chinese biotech company Biotheus for $800 million, aimed at enhancing its oncology strategy and obtaining global rights to the bispecific antibody BNT327/PM8002, which targets both PD-L1 and VEGF-A. This investigational antibody is designed to potentially compete with established treatments like Merck's Keytruda, and has shown promise in clinical trials for various solid tumors. The deal includes an additional $150 million in milestone payments and is expected to close in the first quarter of 2025. BioNTech previously partnered with Biotheus and plans to initiate multiple registrational trials for BNT327/PM8002 in late 2024 and 2025. The acquisition positions BioNTech to strengthen its capabilities in developing next-generation cancer therapies, particularly in combination treatments. Both companies had previously presented encouraging data on the drug at a European cancer meeting, indicating its potential effectiveness in several difficult-to-treat cancers.