Biontech, a Germany-based immuno-oncology therapy developer spun out of Johannes Gutenberg University Mainz, closed a $325m series B round yesterday led by financial services group Fidelity Management & Research.
Redmile Group, Invus, MiraeAsset Financial Group, Platinum Asset Management, Jebsen Capital, Steam Athena Capital, BVCF Management and the Struengmann Family Office as well as unnamed new and existing investors took part in the round.
Biontech previously obtained $91.5m in equity funding from pharmaceutical firm Sanofi as part of a research and development collaboration agreement in January 2019 and secured $120m from pharmaceutical firm Pfizer in August 2018, also as part of a strategic agreement.
The company did not specify whether either of these two investments formed part of the series B round.
Founded in 2008, Biontech is working on immunotherapies for cancer and infectious diseases. It advances research by co-founder and chief executive Uğur Şahin, professor of medicine at Johannes Gutenberg University Mainz.
The series B funding will allow Biontech to advance its pipeline and invest in its manufacturing infrastructure. The company recently established a research and development facility in San Diego in the US.
Biontech previously obtained $270m in series A financing in January 2018 led by Redmile Group, with participation from Fidelity Management and Research, Janus Henderson Investors, Invus and several family offices.
The spinout had already received raised an undisclosed amount of seed funding from MIG Fonds and Strüngmann Family Office in 2008. Its shareholders also include medical device maker Salvia as a shareholder, though it is unclear when or how much it invested.
Biontech partners also include life sciences technology producers Genentech, Genmab, Bayer Animal Health and Eli Lilly, which provided $30m in equity funding for Biontech subsidiary Cell & Gene Therapies in 2015.
Şahin said: “This financing round is a significant milestone that recognizes our scientific and initial clinical track record to date.
“With our ongoing focus on bringing together transformative technologies, it is exciting to have the support from high-technology investors who see the accelerating convergence of biology with bioinformatics, robotics and artificial intelligence as an opportunity to develop more precise, efficacious and cost-effective individualised immunotherapies.”
