BioNTech to acquire Chinese oncology startup for almost US$1bn

GERMAN biotechnology giant BioNTech has acquired a Chinese clinical-stage oncology startup in a deal worth US$950m.

Biotech firm Biotheus focuses on the development of antibodies that can treat people with oncological or inflammatory diseases.

The acquisition will allow BioNTech to further develop Biotheus’ BNT327/PM8002 antibody product, which is currently in its late-stage trial.

This development is part of BioNTech’s aim to build up its oncology treatment portfolio, and its presence in China.

Ugur Sahin, CEO of BioNTech, said: “We believe that BNT327/PM8002 has the potential to set a new standard of care in multiple oncology indications, surpassing traditional checkpoint inhibitors.

“We are committed to advancing its research and development in combination with our investigational mRNA vaccines, targeted therapies, and immunomodulators with the aim of enhancing outcomes for patients with solid tumours."

Antibody innovations

The BNT327/PM8002 antibody has been used for people with various tumour types and is set to be used with chemotherapy to treat patients with non-small cell lung cancer and triple-negative breast cancer.

Biotheus says that the antibody has demonstrated a positive safety profile and “encouraging antitumour activity” when tested with specific protein strains related to blood vessel formation and the immune system.

Future trials will include combining the BNT327/PM8002 antibody with BioNTech’s proprietary antibody-drug conjugates.

Xiaolin Liu, CEO of Biotheus, said: “We have an exciting pipeline of innovative investigational assets under development including an antibody discovery and development platform.”

Chinese presence

Biotech is growing fast in China, and BioNTech joins Pfizer, GSK, and Sanofi in growing operations in region.

BioNTech has been in a strategic collaboration with Chinese-owned cancer therapy company MediLink, and recently invested US$25m to develop the company’s solid-tumour-focused antibody-drug conjugate (ADC).

The acquisition of Biotheus will give BioNTech access to a biologics manufacturing facility, employing more than 300 of Biotheus’ R&D workforce.