BioNTech SE has agreed to acquire British artificial intelligence (AI) startup InstaDeep for up to 562 million pounds ($682 million) to speed up its biotech research and manufacturing capabilities.
Under the German vaccine maker's largest takeover deal to date, BioNTech is to pay 362 million pounds upfront, in a mix of cash and an unspecified number of BioNTech shares, and up to 200 million pounds contingent on InstaDeep's future performance.
Sahin also cited BioNTech's partnership last week with the U.K. government for development of personalized cancer therapies and how AI would help in that.as the industry meets in San Francisco for the conference this week.
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