Oh Happy Day!! 90% Success Result of Ongoing COVID-19 Vaccine Tests
The following is from an announcement made in March 2020:
Global biopharmaceutical giant Pfizer Inc. (NYSE: PFE) today announced the signing of a letter of intent with BioNTech SE (Nasdaq: BNTX) for the co-development and distribution of a coronavirus vaccine aimed at preventing COVID-19 infection. The companies have a head-start on working together, since the partnership builds on a 2018 agreement to jointly develop an mRNA-based influenza vaccine. The additional agreement covers co-development and co-commercialization (excluding China) aimed at accelerating the development of BioNTech’s potential first-in-class COVID-19 mRNA vaccine program, BNT162, which is expected to enter clinical testing by the end of next month.
Pfizer, based in New York City, is one of the world’s largest pharmaceutical multi-nationals. Founded in 1849, its revenue last year was nearly $52 billion. The company’s current pipeline and trials include medicines and vaccines for multiple cancers and infections.
BioNTech of Mainz, Germany, was founded in 2008 with a focus on cancer therapeutics. The company has raised almost $742 million over four funding rounds, the latest a $50 million post-IPO round last December that was led by the European Investment Bank.
“This is a global pandemic, which requires a global effort,” said Ugur Sahin, co-Founder and CEO of BioNTech. “In joining forces with our partner Pfizer, we believe we can accelerate our effort to bring a COVID-19 vaccine to people around the world who need it.”
The two companies will begin working together on the new vaccine immediately, even as they finalize details for the agreement around financials, development, manufacturing and commercialization of the final product. They have already executed a Material Transfer and Collaboration Agreement.
Oh Happy Day!! 90% Success Result of Ongoing COVID-19 Vaccine Tests
The following is from an announcement made in March 2020:
Global biopharmaceutical giant Pfizer Inc. (NYSE: PFE) today announced the signing of a letter of intent with BioNTech SE (Nasdaq: BNTX) for the co-development and distribution of a coronavirus vaccine aimed at preventing COVID-19 infection. The companies have a head-start on working together, since the partnership builds on a 2018 agreement to jointly develop an mRNA-based influenza vaccine. The additional agreement covers co-development and co-commercialization (excluding China) aimed at accelerating the development of BioNTech’s potential first-in-class COVID-19 mRNA vaccine program, BNT162, which is expected to enter clinical testing by the end of next month.
Pfizer, based in New York City, is one of the world’s largest pharmaceutical multi-nationals. Founded in 1849, its revenue last year was nearly $52 billion. The company’s current pipeline and trials include medicines and vaccines for multiple cancers and infections.
BioNTech of Mainz, Germany, was founded in 2008 with a focus on cancer therapeutics. The company has raised almost $742 million over four funding rounds, the latest a $50 million post-IPO round last December that was led by the European Investment Bank.
“This is a global pandemic, which requires a global effort,” said Ugur Sahin, co-Founder and CEO of BioNTech. “In joining forces with our partner Pfizer, we believe we can accelerate our effort to bring a COVID-19 vaccine to people around the world who need it.”
The two companies will begin working together on the new vaccine immediately, even as they finalize details for the agreement around financials, development, manufacturing and commercialization of the final product. They have already executed a Material Transfer and Collaboration Agreement.