-
Acquisition aims to strengthen BioNTech’s pioneering position in the field of AI-powered drug discovery, design and development
-
InstaDeep to operate as London based subsidiary of BioNTech and will be the centerpiece of its growing portfolio of initiatives around artificial intelligence and machine learning
-
Approximately 290 highly skilled professionals and a global network of research partners in the fields of artificial intelligence, machine learning and data science based in the world’s leading global technology hubs
BioNTech SE announced the completion of the acquisition of InstaDeep Ltd. (“InstaDeep”), a leading global technology company in the field of artificial intelligence (“AI”) and machine learning (“ML”). The acquisition was announced on January 10, 2023 and follows a track record of increasing collaboration between the two companies since 2019 as well as BioNTech’s initial equity investment as part of InstaDeep’s Series B financing round in January 2022.
Read More about InterviewI : AiThority Interview with Alistair Dent, Chief Strategy Officer at Profusion
The acquisition supports BioNTech’s strategy, aiming to build world-leading capabilities in AI-driven drug discovery and development of next-generation immunotherapies and vaccines to address diseases with high unmet medical need. InstaDeep will operate as a UK-based global subsidiary of BioNTech. In addition to BioNTech-focused projects, InstaDeep will continue to provide its services to clients around the world in diverse industries, including in the Technology, Transport & Logistics, Industrial, and Financial Services sectors. The transaction adds approximately 290 highly skilled professionals to BioNTech’s workforce, including teams in AI, ML, bioengineering, data science, and software development.
Browse more about Interview Insights: AiThority Interview: Top AI and ML Trends Transforming the Customer Service Industry
The total consideration to acquire the remaining InstaDeep shares, excluding the shares already owned by BioNTech, amounts to approximately €500 million in cash, BioNTech shares, and performance-based future milestone payments.
Latest Interview Insights : AiThority Interview with Gary Kotovets, Chief Data and Analytics Officer at Dun & Bradstreet
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.