Shares of BioNTech SE BNTX, +0.65% were down 2.4% in premarket trading on Monday after the company said it plans to buy one of Gilead Sciences Inc.’s GILD, -1.11% clinical manufacturing facilities and its platform for T-cell receptor therapies. The companies did not disclose financial terms of the deal, saying only that BioNTech will make a one-time payment for the platform and the facility in Gaithersburg, MD. The site will be used to support clinical trials in the U.S.; all employees at the facility will be offered jobs at BioNTech, which is a German biotechnology company. The new site is expected to be part of BioNTech’s work developing new cancer therapies. BioNTech has become a well-known name outside of biotech circles since developing a COVID-19 vaccine with Pfizer Inc. PFE, -1.14%. Shares of BioNTech have gained 183.9% so far this year, while the S&P 500 SPX, -1.85% is up 15.2%.
View Article Origin Here
