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BioNTech ‘planning IPO’
Posted on Wednesday, 13 March 2019 14:51
German cancer immunotherapies developer BioNTech has appointed banks to advise on a potential initial public offering (IPO), according to Reuters.
Citing people with knowledge of the matter, the news provider said Bank of America and JP Morgan have been hired as global coordinators for the flotation, which is expected to take place during Q4 or early next year.
According to the sources, the listing could be worth as much as USD 800.00 million and may value the Mainz-headquartered company at around USD 4.00 billion.
However, they cautioned that the timing of the transaction may change, as could the amount raised.
BioNTech has effectively confirmed that an IPO is a possibility, saying it will look at multiple financing options, including a listing, but did not give any more specific details.
Neither Bank of America nor JP Morgan have commented on the report.
An IPO of BioNTech was first reported earlier this month, when people in the know told Bloomberg that the company was considering a flotation in the US and was in talks with prospective advisors.
Those sources said the listing could value the company at USD 5.00 billion, while noting that the price will depend on investor demand.
Should the reports prove to be correct, an IPO of BioNTech could represent an exit for the firm’s investors, which include Redmile Group, Janus Henderson, the Invus Group and Fidelity Management & Research Company.
All of those parties took part in a USD 270.00 million Series A funding round carried out by the company in January 2018. Other participants included the Struengmann family, alongside other unspecified European family offices.
BioNTech has already completed an acquisition this year, having agreed to pay an undisclosed consideration for the antibody generation unit of therapeutic antibody producer MAB Discover in late January.
Completion is expected to occur by the end of Q1.
BioNTech claims to be Europe’s largest privately-held biopharmaceutical company pioneering the development of individualised therapies for cancer and other diseases.
The company employs in excess of 1,000 people.
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