Biotech Values

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BioNTech makes $1.25B cancer play
By John Tomase, Editor at Linkedin News l 
German pharma giant BioNTech will bolster its oncology arm with a $1.25 billion purchase of CureVac, a clinical-stage biotech company that was once its COVID vaccine rival, the companies said Thursday. CureVac, also based in Germany, has since pivoted to immunotherapy cancer treatments featuring the same messenger RNA technology that revolutionized BioNTech's vaccine business. BioNTech has used the billions it earned during COVID to prioritize its oncology portfolio, recently licensing its newest cancer drug to Bristol Myers Squibb for as much as $11.1 billion.