(Tiper Stock Exchange) – BioNTecha German biotechnology and biopharmaceutical company that co-developed with Pfizer a vaccine for Covid-19, stipulated a agreement to acquire InstaDeepa leading global technology company in artificial intelligence (AI) and machine learning (ML).
The transaction includes a corresponding anticipated total of approximately £362 million in cash and BioNTech stock to acquire 100% of the remaining InstaDeep shares, excluding shares already owned by BioNTech. In addition, InstaDeep shareholders will be eligible to receive further payments for future achievements up to around £200 million.
The transaction follows thestock investment initial funding as part of InstaDeep’s Series B funding round in January 2022 and builds on a successful track record of growing collaboration between the two companies since 2019.
“The acquisition of InstaDeep enables us to incorporate the rapidly evolving AI capabilities of the digital world into our technologies, research, drug discovery, manufacturing and implementation processes,” he said. Ugur Sahin, CEO and co-founder of BioNTech – Our goal is to make BioNTech a technology company where artificial intelligence is seamlessly integrated into all aspects of our work.”