German BioNTech Acquires Tunisia’s InstaDeep for £582 million -

German BioNTech Acquires Tunisia’s InstaDeep for £582 million

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BioNTech, the German biotech company that became a medical powerhouse in 2020 after creating one of the world’s most effective COVID-19 vaccines, will pay a total sum of £582 million to acquire 100% shares of InstaDeep, the Tunisian London-headquartered artificial intelligence startup. The transaction involves an upfront payment of cash and unspecified BioNTech shares worth £362 million, and a balance of £200 million payable based on InstaDeep’s future performance. This deal is coming after the 14-year-old German vaccine manufacturer participated in InstaDeep’s Series A last January, and an overall good partnership history between the two companies. This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/5512041/advertisement

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