- The success of BioNTech’s COVID-19 vaccine has sparked investments in German Biotech.
- In Germany, investments on Biotech has been limited over the last few years.
Mainz-based BioNTech SE is a small company in Germany. Now it has become the first company to bring the COVID-19 vaccine in Germany. This success has drawn the attention from investors in a country where biotech has been struggling to raise funding in recent years. But now new investments are coming.
BioNTech SE collaborated with American pharmaceutical giant Pfizer Inc. to develop the first coronavirus vaccine that was approved in the Europe and USA last year. Domestic rival CureVac NV is expected to get approved in Europe in the coming weeks. Now, more German as well as international investors are interested in investing German biotech which now looks like a hidden gem to them.
In 2020, German biotech companies raised a record of € 3.05 billion (equal to US $ 3.7 billion) through convertible bonds, share offerings, and venture capital. According to Ernst & Young, this was an amount, triple of the amount that came in 2019. Half of that amount went into BioNTech and CureVac. Companies are working on non-Covid-19 related treatments that also got important financing rounds.
Claudia Ulbrich, founder and chief executive of Hanover-based Cardior Pharmaceuticals GmbH, told media that her company was developing Ribonucleic Acid (RNA) therapies against heart failure and seeking to raise € 50 million (equal to US $ 60 million 882 thousand 250) to €60 million (equal to US $ 73 million 58 thousand 700) for a crucial clinical study.