Why BioNTech (BNTX) Shares Are Trading Higher Today – BioNTech (NASDAQ:BNTX)

Why BioNTech (BNTX) Shares Are Trading Higher Today - BioNTech (NASDAQ:BNTX)

  • BioNTech SE 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.

Written by biedex markets