What’s Going on with BioNTech (BNTX)?
BioNTech (BNTX) and Pfizer (PFE) said July 21 that the two biopharmaceutical firms plan to partner with Cape Town’s Biovac “to manufacture the Pfizer-BioNTech COVID-19 vaccine for distribution within the African Union.” Pre-market, BNTX was trading at $245.90 a share, representing a 0.30% increase.
What Does This Mean for BNTX?
“We aim to enable people on all continents to manufacture and distribute our vaccine while ensuring the quality of the manufacturing process and the doses,” BioNTech CEO Ugur Sahin, M.D., explained. “We believe that our mRNA technology can be used to develop vaccine candidates addressing other diseases as well. This is why we will continue to evaluate sustainable approaches that will support the development and production of mRNA vaccines on the African continent.”
Biovac’s Cape Town facility should be incorporated into the COVID-19 vaccine supply chain by the end of this year. Once the Cape Town facility reaches full operational capacity, yearly vaccine production is slated to surpass 100 million finished doses — with every dose to be delivered exclusively within the 55-member (nations) African Union.
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BioNTech SE is a Germany-based biotechnology company that focuses on developing cancer therapeutics, including individualized immunotherapy, as well as vaccines for infectious diseases, including COVID-19. The company’s oncology pipeline contains several classes of drugs, including mRNA-based drugs to encode antigens, neoantigens, cytokines, and antibodies; cell therapies; bispecific antibodies; and small-molecule immunomodulators. BioNTech is partnered with several large pharmaceutical companies, including Roche, Eli Lilly, Pfizer, Sanofi, and Genmab. Comirnaty (COVID-19 vaccine) is its first commercialized product.
