BioNTech to invest £1bn in UK life sciences

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VACCINE pioneer BioNTech has agreed to invest up to £1bn (US$1.3bn) in the UK where it will build two drug research facilities and an AI hub to develop next-generation medicines.

The company, whose mRNA technology helped rapidly develop a Covid-19 vaccine, agreed to invest up to £1bn over the next ten years in exchange for a £129m grant from the UK government. The grant will be used to build a centre in Cambridge focused on researching genomes, cancer therapies, and the structure of large biomolecules including proteins used to produce advanced drugs. It is yet to select the site of its second R&D centre.

BioNTech is establishing its headquarters in London where it will also host a new AI hub used to identify new drug candidates. It will also perform predictive analysis which the biotech firm uses as an early warning system for mutating diseases.

The investments are expected to create 400 direct jobs including in R&D over the next ten years. The government expects a substantial number of jobs will be created in the supply chain.

The UK’s government’s science and technology secretary Peter Kyle said: “This investment will propel the growth-driving life sciences sector to new heights, delivering cutting-edge facilities, building careers in the future-facing jobs we want our children to have, and ultimately unlocking progress in medical science that could save lives.”

The government has said it will publish an industrial strategy this spring, including plans for priority sectors that will outline policies on innovation, infrastructure and skills. Life science will be one of them. Last year, the government launched a £520m fund providing capital grants for companies that want to build manufacturing facilities for human medicines.

Steve Bates, CEO of the UK BioIndustry Association, said: “The UK has a once-in-a-lifetime opportunity to leverage its strong position to attract investment from global investors to create well-paid jobs and scale UK companies, if the upcoming Life Sciences Sector Plan can address long-standing structural challenges in the financing and commercial environment.”

Richard Torbett, CEO of the Association of the British Pharmaceutical Industry, said: “Life science companies are already the largest investors in UK R&D – but much of this comes from a handful of companies with deep UK roots. The UK has an opportunity to capture more of the global science pie if we can improve our competitive offering to the sector.”