BioNTech SE is a biotechnology company that recently went public. Of all the new companies listed on the market in this industry, BioNTech has yielded among the most promising candidates in the massive pipeline, which is impressive. This business has been a subject of intense interest recently, in part because of its IPO and potential investor interest, and also for patients and healthcare providers who deal with conditions with unmet medical needs. We've done the research to learn more about BioNTech SE to offer 20 things that you didn't know about the company to provide you with useful information, adn hopefully answer some of your questions.
1. BioNTech began operation in 2008
The company was founded in 2008. The purpose of the company is to develop biological products that treat and battle a variety of different cancers in humans. The headquarters is located in Mainz, Germany. It employs 1,100 workers including executive leadership, management, researchers, developers and other professionals in the field of biopharmaceuticals. The company is focused upon the development of targeted treatments for a variety of cancers.
2. BioNTech SE takes a unique approach to business
Members of BioNTech work tirelessly to find new and innovative treatments in the fight against cancer. Each has an understanding that each cancer patient is unique and the tumor growing within their body is also unique. This makes it necessary to develop treatments that are customized to meet the needs of each patient on an individual basis for the greatest degree of effectiveness.
3. BioNTech and its partners have an impressive pipeline of product candidates
All stakeholders should know that this company is in collaboration with partners to more quickly and effectively identify and develop individualized treatments for cancer patients. While some biotechnology companies focus on one or just a few product candidates at a time, BioNTech has more than 20 which are currently in their pipeline. This means that there is a greater potential for the commercialization of a variety of products, upon approval of the FDA and that there will be a continual stream. While this is good news for investors, it's even better news for patients who have cancer diagnoses with unmet medical needs. The term unmet medical needs mean that there are few or no treatment options currently available through medical science, and it gives them hope of treatment and possibly even a cure.
4. Several clinical trials are underway
BioNTech SE is an advanced biopharmaceutical company that has already reached the clinical trial stage for eight of its product candidates. Real patients in need of treatment have the opportunity to participate in trials with potentially life-saving results. Clinical trials can only occur after the developer of a potential treatment has satisfied stringent FDA requirements which allow the treatments to be used in a testing phase with humans who have been diagnosed with the target disease. This allows for testing of the efficiency of the treatment against the disease, and for determining tolerance, dosage, and safety of the drug.
5. Profitability may be on the horizon
The fact that 8 of BioNTech SE product candidates have made it to the clinical trial stage, and further, that there are nine ongoing clinical trials underway brings the company one step closer to submission for FDA approval. Once approved, the products will be eligible for commercialization and marketing. This is when the company stands a great potential for profitability and the potential is immense. Investors get excited about the release of a newly approved drug because the potential market for each product could be in the billions.
6. BioNTech SE braved a volatile market
BioNTech SE submitted its filing with the SEC for its initial public offering during a time of market volatility when others were withdrawing their listings. It's a dangerous time for some industries, but they proceeded with the effort in hopes of raising funds. The current economic impacts of the trade war between China and the United States are having significant impacts upon the market, but rather than delaying their listing, BioNTech SE moved ahead.
7. BioNTech raised $150 million at IPO
In its initial public offering, the firm sold 10 million ADS (American Depository Shares) with a selling price of $15 per share. The IPO came in far lower than initially expected. Previous estimates forecast the sale of 13.2 million ADS at a price range between $18 and $20 per share. The day before the original deal was cut back. BioNTech SE is listed on the Nasdaq Stock Exchange under the ticker symbol BNTD.O. Their debut on the stock market was no surprise as many similar companies have suffered the same struggles, with some floundering after the IPO. The IPO deal was underwritten by J.P. Morgan, BofA Merrill Lynch, UBS, and SVB Leerink.
8. BioNTech has an advantage over younger Biotech companies
This firm is quite a bit different than most biotech companies. BioNTech creates personalized therapies for each individual cancer patient and the treatments are tailored to work with the patient's body to attack cancer. This is a cutting edge science and it is one that has had a large appeal to investors who believe that this is the wave of the future and they're happy to invest capital in what they believe will in time, yield a decent ROI.
9. BioNTech has been fundraising as they go
Although the IPO didn't yield the results that were expected, BioNTech has been savvy in their fundraising efforts. The company raised $325 million in venture capital in a large private financing round. In fact, it was notably among the largest of its kind in the history of European biotechnology. This funding round was completed in July of 2019. There has been no shortage of private funders willing to invest in the firm.
10. Breakdown of the total fundraising for BioNTech SE
On January 1, 2008, Private venture capital for seed was raised in teh amount of 220,935,005 led by the Struengmann Family Office, and other funders, followed by a round of Series A funding in January 4, 2018, led by the Redmile Group. In July of 2019, a round of series B funding led by Fidelity and the Redmile Group raised an additional $225,600,000, and teh IPO on 10/10/2019 raised an additional $150 million.
11. BioNTech SE collaborated with the University of Zurich
The firm entered into an agreement with the University of Zurich to conduct research for the evaluation of technology available through the schools in vivo studies. This involved the development of nucleic acid therapeutics for the treatment of cancer. This fell under the classification of academic, foundational and government research. In the deal, BioNTech also partnered with PCI Biotech Holding ASA as a research partner. The partnership commenced in September of 2016.
12. The firm partnered with Roch's Genetech unit
This deal involved the development and commercialization of mRNA based immunotherapies as a platform for targeting patient neoantigens for the individualized treatment of cancer. Genentech Inc is a firm under the Roche umbrella. The companies entered into a deal worth $310,000,000 for research and collaboration on a product license option on September 21, 2016.
13. It also partnered with Cellscript LLC for Licensing
BioNTech AG collaborated with Cellscript for rights to patents for product candidates. This is a vital step in develpment and commercialization which requires licensure of each product prior to the commencement of marketing.
14. BioNTech AG engaged with MAB Discovery
The purpose of the collaboration with MAB Discovery was to generate new antibodies for targeted cancer treatments and therapies. MAB Discovery used a platform of rabbit based antibody discovery. The collaboration with this entity was for the purpose of research and development. BioNTech SE has a long history of collaborations with firms that offer unique approaches to the treatment of cancers and it is by leaving no stone unturned that BioNTech is moving towards individualized cancer treatments for patients who are currently underserved within the medical community.
15. BioNTech maintains transparency
Another noteworthy trait we've observed in the firm is that they maintain a high degree of transparency. This is vital for a company that is continually fundraising as investors are interested in knowing as much as possible about a company before taking a gamble on making a return on their initial investment. There is little to wonder about when it comes to the activities of BioNTech SE. They've left a long paper trail with complete documentation of their activities, collaborations, applications, submissions, and reporting, both in the financial arena and with discoveries and results obtained in clinical trials.
16. The firm is using immunobiology
Recent breakthroughs in life sciences and technologies have made it possible to understand more fully how the body's immune system functions at a molecular level. Dedicated researchers have used special programs to replicate the workings of this system and are figuring out new treatments to target specific functions to unlock the body's weaponry to aid in fighting cancer.
17. Cost-effective methods are being employed
One of the greatest challenges in the biopharmaceutical industry is the cost of doing business, which is sadly passed on to consumers, and those who are in the greatest need of the end product. BioNTech SE is identifying cost-efficient methods for mapping the disease of each patient on an individual basis, with high-resolution technology for targeted treatments, aided through net generation sequencing to diffuse former barriers in breaking down the defenses of tumors.
18. BioNTech is already treating patients
The firm has been working on solutions for the past 11 years and they've been successful in securing funding for speeding the process through collaboration and the use of state of the art and cutting edge technologies. No expense has been spared and every known possibility explored. They've achieved remarkable results and it's still early in the process. The firm has treated more than 250 patients so far and they've addressed the unique treatment requirements for 17 different types of tumors. This is significant progress in the individualized approach to cancer treatment.
19. BioNTech SE practices diversity
Although certainly not the first to take the individualized approach to cancer treatment, BioNTech is one of the most comprehensive develpment firms in the world. When you take the time to review their past and current activities the amount of work that has gone into the research and development of cancer treatments is mind-boggling. We've learned that this company has a solid strategic plan in place which includes everything from the financial mapping through establishing timelines for research, development and the trial phase of the product candidates with the potential to change the face of medicine throughout the globe. The need is great and the effort made by BioNTech has risen to the occasion.
20. BioNTech SE is a firm to keep your eye on
Although the IPO did not succeed at the level forecast, it's not surprising to anyone given the market volatility. This is by no means an indicator of the predictable future of the company in terms of its success in reaching the commercialization stage for the more than 20 product candidates in its pipeline. This is a time when many potential investors are on the fence, given the market conditions. In general, there has been a higher confidence level in the majority of biotech-related firms over some other newcomers to the market. Any investment represents a risk and there are no guarantees of a return on the investment. Some companies offer a more promising outlook for decent returns, but in the stock market, anything can happen. BioNTech SE at a minimum is a company that is worth keeping your eye on whether you're an investor or an interested party for the sake of the hope of treatment for a broad range of cancers and some rare diseases. They offer a ray of hope for many who currently have none.
Written by Allen Lee
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