BioNTech Bags Bargain With Neon Buy
Expands Cell Therapy Pipeline
Neon listed on the NASDAQ at $16 per share 18 months ago. It has now been picked up by the ambitious German biotech for just $2.18 per share, having recently ended its cancer vaccine programs and laid off a quarter of its workforce.
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The company has already expanded into Asia and shown early clinical data from its own cell therapy programs as it acquires Kite Pharma’s neoantigen TCR R&D program and manufacturing plant.
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The Bill & Melinda Gates Foundation has invested $55m in an infectious disease collaboration with Germany’s BioNTech that could reach up to $100m in total funding.