- BioNTech SE (NASDAQ:BNTX) has agreed to acquire InstaDeep Ltd, a technology company in the field of artificial intelligence (“AI”) and machine learning.
- The transaction includes an upfront consideration of approximately £362 million in cash and BioNTech shares.
- In addition, InstaDeep shareholders will be eligible to receive additional performance-based future milestone payments of up to approximately £200 million.
- Related: BioNTech Stock Gets Upgrade, Analyst Sees Multiple Upside Opportunities.
- The transaction follows BioNTech’s initial equity investment as part of InstaDeep’s Series B financing round in January 2022.
- The acquisition supports BioNTech’s strategy to build capabilities in AI-driven drug discovery and develop next-generation immunotherapies and vaccines.
- The transaction will combine two organizations with a common culture and add approximately 240 highly skilled professionals to BioNTech’s workforce.
- The transaction is expected to close in the first half of 2023.
- Price Action: BNTX shares are up 3.06% at $153.32 on the last check Tuesday.
Cryptocurrency Hedera Up More Than 3% In 24 hours
Over the past 24 hours, Hedera's (CRYPTO: HBAR) price has risen 3.62% to $0.05. This continues its positive trend over the past week where it has experienced a 1.0% gain, moving from $0.05 to its current price. As it stands right now, the coin's all-time high is $0.57.
