BioNTech's $1.33 Billion UK Investment for R&D Expansion
(Reuters) -German vaccine maker BioNTech said on Tuesday that it plans to invest up to 1 billion pounds ($1.33 billion) over the next ten years to broaden its research and development activities in partnership with the UK government.
The company said its subsidiary BioNTech UK signed a grant agreement with the UK government that builds on a multi-year collaboration announced in January 2023.
Under the deal, BioNTech had undertaken to enroll up to 10,000 patients in clinical trials by the end of 2030 for personalized cancer therapies and make investments to expand the company's footprint in the United Kingdom.
BioNTech said on Tuesday that the UK will give the company a grant of up to 129 million pounds ($172.05 million) for a period of 10 years.
The company plans to use the grant to support its establishment of two new R&D centers, the first of which will be based in Cambridge and a second is currently being planned.
($1 = 0.7499 pounds)
(Reporting by Sneha S K in Bengaluru; Editing by Shailesh Kuber)
