The Mainz-based biopharmaceutical company BioNTech is raising fresh capital through an investment by Singapore's sovereign wealth fund Temasek, among others. In total, a private placement of shares with Temasek and other investors would bring in 250 million US dollars (222 million euros), BioNTech announced in Mainz on Monday. The sum is divided into around 139 million dollars in ordinary shares and 112 million euros in four-year mandatory convertible notes. The completion of the investment is planned for early to mid-August.
"We are pleased to welcome Temasek onboard as a new shareholder," said BioNTech co-founder and CEO Ugur Sahin via a press release. He added that Temasek's long-term investment approach, global presence and experience in biotechnology are a good fit with BioNTech's vision to build a leading global biopharmaceutical company. BioNTech is listed on the US technology exchange Nasdaq.
Like many other companies, BioNTech is also looking for a vaccine against the respiratory disease COVID-19, and at the end of April it became the first company in Germany to receive approval from the Paul Ehrlich Institute to test a substance on healthy volunteers. The first results are expected at the end of June or beginning of July.
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