The German pharmaceutical company Biontech, which gained worldwide fame with one of the first vaccines against the coronavirus, has given a boost to the development of cancer drugs through an agreement with the Chinese company Biotheus, DPA reported.<\/p>\n\n\n\n
The Mainz-based company announced today in a statement quoted by BTA that it will pay up to $950 million, including an upfront payment of $800 million, to acquire Biotheus.<\/p>\n\n\n\n
The acquisition of the Chinese company with about 300 employees is expected to be completed in the first quarter of 2025.<\/p>\n\n\n\n
Through the acquisition, Biotech will secure worldwide rights to a yet unapproved drug called BNT327, which is already in an advanced stage of clinical development.<\/p>\n\n\n\n
According to Biotech, the results of clinical trials of the drug in more than 700 patients diagnosed with various types of tumors are encouraging.<\/p>\n\n\n\n
Biotech co-founder Ugur Sahin said that the company believes that the active ingredient has the potential to set a new standard in the treatment of certain types of cancer.<\/p>\n\n\n\n
Several studies with the active ingredient, for example for the treatment of lung and breast cancer, will begin this year and next.<\/p>\n\n\n\n
The acquisition will also give BioNTech a research and development center and manufacturing facility in China.<\/p>\n\n\n\n
The German pharmaceutical company is aiming for approval to market a cancer drug in 2026.<\/p>\n\n\n\n
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