BioNTech continues to grow and is in buying mode

11 Nov 2021

BioNTech continues to grow and is in buying mode

The figures for the 3rd quarter of Mainz-based BioNTech SE show sales and profits in the billions. In addition, BioNTech is broadening its technology mix by acquiring Austrian company Phagomed. 

Overall, BioNTech generated 6.08 billion euros in 2021 sales in the third quarter, posting a net profit of about 3.2 billion euros in the period. For the nine months ending Sept. 30 of the current year, total revenues add up to 13.4 billion euros, according to the company. Over the year as a whole, the company expects sales revenues of up to 17 billion euros, according to its own calculations.

For the city administration of Mainz, the success of BioNTech has a positive impact on the municipal budget. It could soon be debt-free or even show a surplus.

BioNTech has also announced an acquisition. According to Handelsblatt, the Mainz-based company has acquired the Viennese biotech company Phagomed, which was founded in 2017 by Lorenzo Corsini and Alexander Belcredi, for an estimated sum of around 150 million euros. The company is also active in the field of infectious diseases, but its technological approach targets bacterial infections and, in particular, a new class of antibiotics. Here, the "natural enemies" of bacteria, phages, are being developed as specific drugs with the  potential to overcome antimicrobial resistance.

Phagomed's award-winning technology platform for the development of optimised phage populations has already made its way into the clinic in individual cases. Under the BioNTech umbrella, further clinical development is now to be pursued.