(RTTNews) – BioNTech SE (BNTX) introduced Thursday that it has signed a share buy deal to purchase Novartis AG’s GMP licensed manufacturing facility in Marburg, Germany. The corporate, which expects the ability to be totally operational within the first half 2021, goals to increase its COVID-19 vaccine manufacturing capability.
In pre market exercise on Nasdaq, BioNTech shares had been gaining at three % to commerce at $68.
BioNTech will take over your complete website with at the moment roughly 300 staff. The acquisition will speed up BioNTech’s efforts to scale-up its industrial manufacturing capability to supply its mRNA COVID-19 vaccine candidate BNT162.
As soon as totally operational, the manufacturing website will increase BioNTech’s COVID-19 vaccine manufacturing capability by as much as 750 million doses per 12 months, or over 60 million doses per thirty days.
The transaction is predicted to shut within the fourth quarter of 2020, topic to regulatory approval and the satisfaction of sure different customary closing circumstances.
BioNTech plans to have the ability to produce as much as 250 million doses of BNT162b2 within the first half of 2021, due to the established workforce and well-established drug substance and drug product manufacturing capabilities on the website.
In keeping with the corporate, the Marburg manufacturing facility will turn into one of many largest mRNA manufacturing websites in Europe and the third website within the BioNTech manufacturing community in Germany anticipated to supply BNT162 for international provide.
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