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BioNTech files for IPO of up to $100M on Nasdaq

Germany's BioNTech SE filed for an IPO of up to $100 million of American depositary shares on the Nasdaq Global Select Market.

BioNTech — which develops personalized therapies for cancer and other diseases — plans to use proceeds from the offering to complete clinical trials for its product candidates, advance other product candidates through phase 1 clinical trials and to expand its manufacturing and laboratory capacity. Part of the proceeds will also be used for general corporate purposes.

The company plans to list its ADSs on the stock exchange under the BNTX ticker symbol. BioNTech granted underwriters a 30-day option to buy additional ADSs under the offer.

J.P. Morgan Securities LLC, BofA Securities Inc., UBS Securities LLC and SVB Leerink LLC are acting as representatives of the underwriters under the IPO.

Mainz, Germany-based BioNTech collaborates on therapies with companies including Roche Holding AG's Genentech Inc., Genmab A/S, Eli Lilly and Co., Sanofi, Pfizer Inc. and Bayer AG.

In March, the company was reported to have hired banks for a potential IPO that could raise up to $800 million.