(Reuters) – German drugmaker BioNTech has agreed to acquire Chinese biotech company Biotheus to support its oncology strategy and gain full global rights to the bispecific antibody candidate BNT327, it said on Wednesday.
BNT327 has been tested in clinical trials with tumour patients, and Biotheus previously held the rights to commercialize it in the Greater China market.
Under the terms of the agreement, BioNTech will pay 800 million dollars for 100% of the issued share capital, with additional milestone payments of up to 150 million dollars.
The transaction is expected to close in the first quarter of 2025.
(Reporting by Chiara Holzhaeuser, Editing by Miranda Murray)
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