By Michael Susin
BioNTech said it plans to invest up to 1 billion pounds ($1.34 billion) over the next 10 years to expand its research and development activities for innovative medicines in the U.K.
The German biotechnology company, listed on the U.S. stock exchange, said Tuesday that the expansion will be supported by a 129 million-pound grant from the British government, which will be used to establish two new research and development centers, and U.K. headquarters in London. The first of these centers will be located in Cambridge, while the second is currently being planned.
"These efforts are part of BioNTech's global strategy to advance research and development of innovative cancer immunotherapies aimed at bringing multiple cancer treatments to the market by 2030, if successfully developed and approved," it said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 20, 2025 11:38 ET (15:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.