German biotechnology player BioNTech is carrying out a private placing worth USD 250.00 million.
The company said the transaction will involve the issue of ordinary shares worth USD 139.00 million and 4-year mandatory convertible notes valued at USD 112.00 million.
Among the investors are Singaporean sovereign wealth fund Temasek, as well as other accredited parties.
Completion remains subject to customary closing conditions and is slated to follow in August.
BioNTech is generally active in the development of patient-specific immunotherapies for the treatment of cancer and infectious diseases.
It is currently focused on an experimental vaccine for the Covid-19 coronavirus, which has caused widespread disruption worldwide in 2020; the firm is working with Pfizer on the treatment.
Initial clinical data on its vaccine is expected later this month or in July.
BioNTech has been publicly-traded on Nasdaq since October of last year.
The company has completed an acquisition of its own this year; in January, it unveiled plans to pick up Neon Therapeutics for USD 67.00 million.
Completion followed in May.
Since the beginning of 2020, there have been 2,613 deals worth a combined USD 59.06 billion targeting companies providing research and development services in the physical, engineering and life sciences sectors announced worldwide, according to Zephyr, the M&A database published by Bureau van Dijk.
This represents a decline on the 2,888 such deals with an aggregate value of USD 109.60 billion which were signed off over the corresponding timeframe of last year.
The sector’s largest deal of this year to date is worth USD 4.90 billion and involved Gilead Sciences picking up US-headquartered cancer treatments maker Forty Seven in April.
Other companies in the industry to have been targeted this year include Corvidia Therapeutics, WuXi AppTec, Aprogen and Moderna.
© Zephus Ltd