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Report: BioNTech IPO could fetch up to $800M

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Report: BioNTech IPO could fetch up to $800M

German biopharmaceutical company BioNTech AG has hired banks for a potential IPO that could raise up to $800 million, Reuters reported March 12, citing people familiar with the matter.

BioNTech develops individualized therapies for cancer and other diseases. The company's research platforms involve messenger Ribonucleic acid-based medicines, cell and gene therapies as well as protein therapies. The German company has partnerships with pharmaceutical giants including Roche Holding AG, Eli Lilly and Co., Pfizer Inc. and Sanofi.

Reuters reported that Bank of America and JP Morgan have been hired as global coordinators for the potential Nasdaq IPO.

The IPO could occur in the fourth quarter or early in 2020.

BioNTech, which raised about $270 million in a series A financing led by Redmile Group in January 2018, could be valued at about $4 billion, according to the report.