Covid vaccine: 250 million euros for Biontech

The Mainz-based Biopharma company Biontech gets, among other things, by an investment from Singapore's state Fund Temasek fresh money. Overall, a private place

Covid vaccine: 250 million euros for Biontech

The Mainz-based Biopharma company Biontech gets, among other things, by an investment from Singapore's state Fund Temasek fresh money. Overall, a private placement of shares for Temasek and the other investors bring $ 250 million (222 million Euro), shared with Biontech on Monday in Mainz. The sum of the parts on in about 139 million dollars, of ordinary shares and 112 million euros of four-year convertible bonds. The completion of the investment is scheduled for early to mid-August.

"We are pleased to welcome Temasek as a new shareholder on Board," said Biontech co-founder and chief Ugur Sahin according to an announcement. Temasek is characterized by a long-term investment approach, global presence and experience in the biotechnology and fit therefore well with the Vision of Biontech, a leading global biopharmaceutical company to build. Biontech is listed on the technology stock exchange Nasdaq.

Like many other companies Biontech is searching for a vaccine against the lung disease Covid-19. The Mainz had received at the end of April as the first company in Germany by the Paul-Ehrlich-Institut approval to test a drug in healthy volunteers. First results are expected by the end of June or beginning of July.

Updated Date: 29 June 2020, 06:19

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