BioNTech To Acquire Neon to Bolster its Immunotherapy Pipeline

Shots:

• BioNtech to acquire Neon in an all-stock transaction for $67M or $2.18/ share of Neon based on the closing price of BioNTechs’ ADS of $34.55 & at a premium of 77.2% on 15 Jan, 2020. The transaction is expected to be closed in Q2’2020
• The focus of the acquisition is to expand BioNTech’s CAR-T and TCR therapy pipeline with the addition of Neon’s adoptive T cell and neoantigen TCR therapies including NEO-PTC-01, which complements BioNtech’s pipeline and focus on solid tumors
• The acquisition accelerates BioNtech’s presence in the US by creating a hub for research and clinical development. Neon’s NEO-PTC-01 is a T cell therapy targeting shared RAS neoantigens

Click here to­ read full press release/ article | Ref: GlobeNewswire | Image: Neon therapeutics