BioNTech has acquired Chinese cancer drugmaker Biotheus in a near $1bn deal, as the Covid-19 vaccine maker taps into the country’s health sciences expertise to develop promising immunotherapy drugs.
The deal gives the German biotech control of a drug class that has shown potential to outperform Merck’s blockbuster cancer treatment Keytruda, the best-selling drug globally in 2023 with $25bn in sales.
BioNTech will make $800mn in upfront payments to Biotheus, a drugmaker based in Guangdong province, with milestone payments of up to $150mn.
Uğur Şahin, chief executive of BioNTech, said the company believed that the Biotheus drug “has the potential to set a new standard of care in multiple oncology indications”.
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