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Biontech completes acquisition of UK AI company

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Biontech completes acquisition of UK AI company

Biontech has completed the acquisition of UK-based artificial intelligence (AI) specialist InstaDeep, announced earlier this year. This acquisition, which is the largest in Biontech’s history to date, includes a payment totaling around 500 million euros in cash as well as Biontech shares and outstanding performance-related payments, as the Mainz-based company announced on Monday.

According to Biontech, it has been working with InstaDeep since 2019 and had already invested in the London-based company in January 2022 as part of a financing round.

According to the information, the takeover will bring around 290 employees to the Biontech workforce. The acquisition is part of the strategy to build capacity in AI-driven drug research. InstaDeep will remain as a brand and, as a Biontech subsidiary, will continue to offer services for customers in other sectors such as transport and logistics, industry and financial services. (sda/awp/dpa)

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