BioNTech Secures $325 Million Series B Financing to Advance mRNA-Based Personalized Cancer Vaccines and Immunotherapies

On July 9, 2019, VCBeat (WeChat ID: VCbeat) learned that BioNTech, Europe’s largest privately held biopharmaceutical company, had completed a $325 million Series B financing round. The round was led by existing investor Fidelity Management & Research Company, with participation from Redmile Group, Invus, Mirae Asset Financial Group, Platinum Asset Management, Jebsen Capital, Steam Athena Capital, BVCF Management, and Struengmann Family Office.

The funds will be used to advance the company’s mRNA personalized vaccine for melanoma, which completed Phase I clinical trials in 2017. Additionally, the funds will support the advancement of its pipeline of mRNA cancer vaccines, CAR-T therapies, and small-molecule drugs.

BioNTech's Financing History

BioNTech, founded in 2008 and headquartered in Rhineland-Palatinate, Germany, has raised a total of $1.02 billion in financing since its inception, ranking among the top recipients of funding in the global biotechnology sector. In January 2018, BioNTech completed its Series A financing round led by Redmile Group. The funds were allocated to advance seven pipeline candidates and eight clinical trials, as well as to establish a second GMP manufacturing facility for the production of personalized mRNA vaccines. In May 2019, the company acquired the core pipeline of MabVax Therapeutics, a clinical-stage oncology drug developer, specifically the monoclonal antibody MVT-5873 targeting pancreatic cancer. Additionally, the company recently established a U.S. R&D center in San Diego, California.

BioNTech possesses a diverse portfolio of cutting-edge technologies, including personalized mRNA drug candidates, innovative chimeric antigen receptor (CAR) therapies, T-cell receptor (TCR)-based compounds, novel checkpoint immunomodulators, small-molecule drugs, and companion diagnostic products.

BioNTech’s personalized mRNA technology has established three therapeutic platforms: cancer immunotherapy, infectious disease vaccines, and protein replacement therapy.

The cancer immunotherapy platform utilizes next-generation sequencing (NGS) and proprietary analytical algorithms to define tumor-specific antigen profiles. Leveraging these profiles, or “variants,” therapies are customized for each tumor to activate the patient’s immune system to identify, target, and combat their unique, individualized cancer.

The infectious disease platform primarily focuses on developing vaccines against novel viruses. Conventional vaccines, produced through inactivated or engineered viruses, are often constrained by seasonal factors and struggle to achieve mass production in the shortest possible time to curb large-scale outbreaks of infectious diseases. BioNTech is developing an innovative self-amplifying RNA platform, A.I.R. (Amplified Immune Response), which holds the promise of producing millions of doses of preventive vaccines against specific viruses in the shortest possible timeframe.

Protein replacement platforms target rare genetic diseases, using BioNTech’s non-immunogenic mRNA platform and proprietary technologies to deliver mRNA encoding therapeutic proteins or antibodies into the human body.

BioNTech’s CAR and TCR platforms are rapid and flexible, enabling the isolation of TCRs from a patient’s single T cell in as little as 11 days. The company has developed a broad and diverse portfolio of immune receptor candidates, including: more than 160 functional, experimentally validated TCRs targeting over 20 different tumor antigens; and more than 60 T cell products with modified antigen epitopes.

BioNTech also possesses two key protein therapeutic platforms: bispecific antibodies and nanoparticles. Furthermore, in 2010, BioNTech acquired Microbody technology, which led to the development of the SAPHIR® platform—highly immunogenic, self-assembling nanoparticles capable of inducing specific and effective immune responses in humans against cancer and for vaccine applications.

BioNTech has developed small-molecule drug therapies for oncology indications, with several small-molecule candidates having successfully entered preclinical or clinical development stages. In 2015, the company launched MammaTyper®, a diagnostic product for molecular subtyping of breast cancer. Studies have demonstrated that MammaTyper® offers exceptionally high diagnostic accuracy. Compared with conventional clinical testing methods, MammaTyper® not only provides superior predictive value for disease-free survival and overall survival but also exhibits significant technological advancements. BioNTech’s MammaTyper® has also established a commercialization partnership with China-based Shuwen Biotechnology.

Multi-Project Early-Stage R&D Pipeline

Oncology mRNA Drug Development Pipeline

BioNTech’s successful fundraising was inseparable from its seasoned founding team, whose members have made significant contributions in drug development, corporate management, and mergers and acquisitions. The key members of the founding team include:

Professor Ugur Sahin, the company’s CEO and co-founder, as well as co-founder and Chairman of the Translational Oncology at the University Medical Center of Johannes Gutenberg University Mainz (TRON), co-developed the SEREX and MicroGATE™ technologies. He is also an entrepreneurial researcher and inventor who has made significant contributions to more than 60 independent patents in the life sciences and biotechnology sectors, and his TRON project was awarded the BMBF Spitzencluster Award.

Sean Marett, the company’s CBO and CCO, brings 30 years of international experience in operations, sales and marketing licensing, mergers and acquisitions (M&A), and new product development management. He has worked at major pharmaceutical companies such as GSK and Pfizer, where he successfully completed numerous large-scale pharmaceutical service transactions and negotiated multiple M&A deals.

Dr. Sierk Poetting serves as Vice President and Chief Financial Officer of Sandoz’s North American division. He has eight years of experience at Novartis in quality control and process planning for mergers and acquisitions, acquisitions, facility management, IT, and procurement, and has participated in the negotiation and planning of multiple M&A transactions.

Özlem Türeci, M.D., a member of the Executive Committee of the Cancer Immunotherapy Association (CIMT), has published more than 110 peer-reviewed articles and holds over 80 patents. She possesses profound expertise in cancer research and immuno-oncology, with more than 25 years of R&D experience, particularly in identifying drug targets for immunotherapies and developing antibody- and vaccine-based therapies.

BioNTech Management Team (from left to right)

Professor Ugur Sahin, CEO and Co-Founder of BioNTech, stated: “The Series B financing represents strong industry recognition of our research achievements. We will continue to develop innovative immunotherapies by integrating biotechnology with AI, thereby advancing the development of precise, effective, and cost-efficient personalized immunotherapies.”