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BioNTech gets $250M investment from Temasek

BioNTech SE received an investment of $250 million from Singapore's Temasek Holdings (Pte.) Ltd., a combination of $139 million in ordinary shares and $112 million in four-year mandatory convertible notes.

Temasek will hold just under 2.6 million shares in BioNTech, a biotechnology company specializing in cancer and infectious diseases. Germany's BioNTech is among several companies developing a vaccine for the novel coronavirus.

The investment is expected to close in August.