The Mainz-based biotech company Biontech is strengthening itself with the takeover of the British start-up InstaDeep. Biontech will initially pay around 362 million British pounds for the acquisition, as the group announced on Tuesday. The deal also includes Biontech shares for the full takeover of the London company specializing in artificial intelligence, in which the Mainz-based company participated in a financing round a year ago. Biontech did not want to give any further details. InstaDeep owners can also look forward to additional performance-based milestone payments of up to around £200 million. The acquisition, which will bring around 240 new employees to Biontech, is expected to be completed in the first half of the year.
InstaDeep – Biontech takes over British start-up business
