AI, ML-based deal builds on the parties’ existing relationship.
BioNTech has officially completed the acquisition of InstaDeep Ltd.—a technology company in the artificial intelligence (AI) and machine learning (ML) space—for approximately $549 million. Although this deal was originally announced this past January, the news actually follows a history of collaboration between the two parties since 2019; it is important to note that BioNTech also provided an initial equity investment as part of InstaDeep’s Series B financing round in January 2022.
The acquisition supports BioNTech’s strategy of aiming to build capabilities in AI-driven drug discovery and development of immunotherapies and vaccines to address diseases with high unmet medical need. InstaDeep will operate as a UK-based global subsidiary of BioNTech.
In addition to BioNTech-focused projects, InstaDeep will continue to provide its services to clients in other industries, including in the technology and transport & logistics sectors. The transaction adds approximately 290 highly skilled professionals to BioNTech’s workforce, including teams in AI, ML, bioengineering, data science, and software development.