Fosun Pharma invests $50m in BioNTech for its COVID-19 vaccine

The two companies have agreed to develop BNT162 in China leveraging Fosun’s capabilities in the country

BioNTech SE and Shanghai Fosun Pharmaceutical have announced a strategic development and commercialisation collaboration to advance BioNTech’s mRNA vaccine candidate BNT162 in China for the prevention of COVID-19 infections.

Under the terms of the agreement, the two companies will work jointly on the development of BNT162 in China. The companies will collaborate to conduct clinical trials in China leveraging Fosun Pharma’s extensive clinical development, regulatory, and commercial capabilities in the country.

If approved, Fosun Pharma will commercialise the vaccine in China. BioNTech will supply the mRNA vaccine for clinical trials from GMP manufacturing facilities in Europe along with its partner Polymun. BioNTech will retain full rights to develop and commercialise the vaccine in the rest of the world.

“We see this collaboration as an important step in our global effort to expedite the development of our mRNA vaccine to prevent COVID-19 infection. Fosun Pharma shares our commitment to move rapidly to address the COVID-19 outbreak and brings deep development experience and an extensive network in the pharmaceutical market in China,” said Founder and CEO of BioNTech, Ugur Sahin.

Wu Yifang, President and CEO of Fosun said: “A potential pandemic requires a collective effort and both companies are passionate about contributing to the fight against the current coronavirus outbreak. We are excited to collaborate with BioNTech, one of the leading companies worldwide in the mRNA field. Our shared objective is to develop a vaccine against the coronavirus and to be able to rapidly manufacture a vaccine to turn the tide of COVID-19 infection.”

Under the terms of the agreement, Fosun Pharma has agreed to make an equity investment of $50 million.

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