20 August 2018 - - za

German biotechnology company BioNTech AG has entered into a multi-year research and development collaboration with Pfizer Inc. (NYSE: PFE) to develop mRNA-based vaccines for prevention of influenza, the company said.

Under the terms of the agreement, BioNTech and Pfizer will jointly conduct research and development activities to help advance mRNA-based flu vaccines.

Pfizer will assume sole responsibility for further clinical development and commercialization of mRNA-based flu vaccines, following BioNTech's completion of a first in human clinical study.

BioNTech will receive USD 120m in upfront, equity and near-term research payments and up to an additional USD 305m in potential development, regulatory and commercial milestone payments.

In addition, BioNTech will receive up to double-digit tiered royalty payments associated with worldwide sales if the program reaches commercialization.

BioNTech is a specialist in mRNA vaccine approaches with validated science, innovative manufacturing expertise and a broad understanding of the clinical applications of this technology.

BioNTech is Europe's largest privately-held biopharmaceutical company pioneering the development of individualized therapies for cancer and other diseases.

The company combines all building blocks for individualised immunotherapy under one roof from diagnostics and drug development to manufacturing.

Its technologies range from individualised mRNA-based medicines through innovative chimeric antigen receptors and T-cell receptor-based products to novel checkpoint immunomodulators and small molecules.

Founded in 2008, BioNTech's financial shareholders include the Struengmann Family Office as its majority shareholder, Fidelity Management and Research company, Invus, Janus Henderson Investors, MIG Fonds, Redmile Group, Salvia and several European family offices.