BioNTech SE is leaping forward into integrating artificial intelligence and machine learning (AI/ML) into its business with the acquisition of a technology specialist company that it partnered with two years ago. In addition to beefing up BioNTech’s presence in AI/ML, an area that drug makers have increasingly invested in as a way to improve the speed and efficiency of drug discovery and development, the acquisition also may improve its competitive footing against mRNA rival Moderna, Inc., which has emphasized digital technology adoption for several years.
BioNTech announced at the J.P. Morgan Healthcare Conference on 10 January that it had reached an agreement to acquire 100% of the remaining shares of UK-based InstaDeep Ltd for £362m ($440m) worth of cash and BioNTech shares, along with InstaDeep shareholders being eligible to receive up to about £200m ($243.1m) in future milestone payments