Fosun Pharma and BioNTech $135 million COVID-19 vaccine strategic alliance

Overview:

• Chinese healthcare group Shanghai Fosun Pharmaceutical (Fosun Pharma) has formed a strategic alliance with Biopharmaceutical New Technologies of Germany (BioNTech) to develop and commercialise a vaccine that prevents COVID-19 infections using BioNTech’s mRNA vaccine candidate BNT162.
• Fosun Pharma and BioNTech will work jointly on the development of BNT162 in China conducting clinical trials.
• Fosun Pharma will pay $85 million in licensing fees to use BioNTech’s proprietary mRNA therapeutics, and make an equity investment of $50 million for 1,580,777 ordinary shares in BioNTech.
• BioNTech is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. 

Adam Majeed - IFLR1000