BioNTech, the German biotech company that became a medical powerhouse in 2020 after creating one of the world’s most effective COVID-19 vaccines, will pay a total sum of £582 million to acquire 100% shares of InstaDeep, the Tunisian London-headquartered artificial intelligence startup.
The transaction involves an upfront payment of cash and unspecified BioNTech shares worth £362 million, and a balance of £200 million payable based on InstaDeep’s future performance.
This deal is coming after the 14-year-old German vaccine manufacturer participated in InstaDeep’s Series A last January, and an overall good partnership history between the two companies.
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