BioNTech raises $270M series A

Immuno-oncology company BioNTech AG (Mainz, Germany) raised $270 million in a series A round led by new investor Redmile Group. Other new investors included Janus Henderson Investors, Invus, Fidelity and several undisclosed European family offices. The Strüngmann family office, a founding investor of BioNTech and majority shareholder, also participated in the round.

BioNTech COO Sean Marett told BioCentury the capital will primarily fund development of the company's clinical pipeline and expansion of manufacturing facilities.

BioNTech’s mRNA-based cancer vaccines in clinical testing include FixVAC, a fixed combination of shared tumor-associated antigens that is in a Phase I trial to treat melanoma and a Phase I/II trial to treat head and neck cancer; and IVAC MUTANOME, an mRNA vaccine targeting multiple neoepitopes that are specific to the unique mutation signature of an individual patient that is in a Phase I trial in triple-negative breast cancer, and a Phase I trial in solid tumors. The latter trial is part of a 2016 deal with the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY).

BioNTech also expects two additional mRNA cancer vaccines to enter the clinic this year, while a chimeric antigen receptor (CAR) T therapy to treat ovarian cancer is expected to start clinical testing in 2019.

Marett said the financing positions BioNTech for a possible future IPO on NASDAQ, although the timing of a listing has yet to be determined.