Pfizer invests in mRNA vaccine powerhouse BioNTech

Pfizer is to pay German company BioNTech up to $425m for a multi-year collaboration in the development of more effective influenza vaccines, joining other pharma giants in a promising mRNA-based race. Under the terms of the agreement, BioNTech received a $120m upfront payment consisting of a mix of cash, equity, and research support. Pfizer has also committed to an additional $305m in line with potential regulatory and commercial milestone payments depending on the future development achievements. Privately-held BioNTech will also receive double-digit royalty premiums associated with worldwide sales if the programme reaches the market. Both firms will join forces to focus on research and development activities aiming to accelerate mRNA-based seasonal and pandemic flu vaccines.