Biontech share increases by twelve percent after mega deal
Bristol-myers Squibb will pay Biontech up to $ 11.1 billion (9.7 billion euros) for the licensing of a next generation cancer medication. This is a sign of tightened competition in the area of oncology, in which attempts are made to use the immune system to combat tumors.
The Mainz Biotech company will receive $ 1.5 billion in advance and two billion dollars in installments by 2028, as the companies announced on Monday. Biontech will also be entitled to up to $ 7.6 billion in milestone payments, and the partners will share the development and manufacturing costs as well as profits. Biontech recently listed 12.1 percent higher at 94.65 euros.
Competition presents $ 60 billion in sales worldwide
It is the latest deal of a series in which pharmaceutical companies are fighting a share in a market that is currently led by Keytruda by Merck & Co. According to Bloomberg Intelligence, global sales with immuno -kological treatments could reach $ 60 billion annually by 2027.
The Akeso-Summit active ingredient and other active ingredients such as BNT327 from Biontech combine existing immunononcology technologies.
This new category of cancer therapies experienced a real high flight last year when the Chinese biotech company Akeso and its American partner Summit Therapeutics announced that their experimental medication section in a Chinese clinical study better than keytruda.
The Akeso-Summit active ingredient and other active ingredients such as BNT327 from Biontech combine existing immunononcology technologies, similar to that of Keytruda, with a second type of medication that interrupts the blood and oxygen supply to tumors. The aim is to develop immunotherapy that are effective in more patients.
Use of experimental active ingredients
The agreement between Bristol-myers and Biontech gives both companies the right to examine other experimental active ingredients of the partner together with BNT327. This fits the strategy of Biontech to pursue combination therapies for tumors.
Luxembourg’s contribution to decrypting the « GPS code » of the immune system
Although Biontech became known by the Corona vaccine licensed on Pfizer, the company was founded as a cancer research company before global pandemic. Much of its Corona winnings has reinvested it into oncology.
