InstaDeep is the largest acquisition
Biontech buys British AI startup
01/10/2023, 4:55 p.m
Biontech wants to expand its capacities in the field of immunotherapies. To do this, the Mainz-based company is taking over a British company with which they have been cooperating for years. It is the most expensive acquisition in the company’s history.
The pharmaceutical company Biontech wants to take over a British start-up specializing in artificial intelligence. In addition, the Mainzers put around 362 million pounds (410 million euros) in cash on the table. Together with Biontech shares, the takeover of InstaDeep would be the largest in the company’s history to date, as the Mainz-based company announced. The deal enables the establishment of “fully integrated, company-wide capabilities for the discovery, design and development of next-generation immunotherapies at scale,” it said.
The intended takeover will add around 240 employees to the workforce and open up access to a global network of research partners in the fields of artificial intelligence, machine learning and data science. According to the information, there is already a multi-year strategic partnership between the two companies; Biontech already holds shares in InstaDeep. In addition to the £362m, InstaDeep shareholders are set to receive up to £200m in performance fees.
Takeover expected by summer
After the takeover, InstaDeep will operate worldwide as a Biontech subsidiary and will remain based in London. The acquisition is expected to close in the first half of this year, subject to regulatory approval. According to InstaDeep, it was founded in 2014 and has offices in Paris, Tunis, Lagos, Dubai and Cape Town.
The planned takeover underscores the increasing importance of Great Britain for Biontech. Only a few days ago it became known that the Mainz-based company wants to set up a research and development center for cancer therapy there. The aim is to treat up to 10,000 patients with personalized cancer immunotherapies by 2030 – either as part of clinical studies or as approved treatments.