BioNTech floats on Nasdaq

BioNTech SE from Mainz has successfully made the leap to the American technology exchange Nasdaq. The company made its debut on the stock exchange and raised 150 million US-dollars.

Großer Bildschirm mit Aktienkursen an einer Börse

Rawpixel - Fotolia / ©SL

Ten million new ordinary shares in the form of American Depositary Shares (ADS) were placed at a price of 15 US-dollars per share. The company was valued at 3.4 billion US-dollars at the close of trading. Although the original target was markedly higher, German biotech companies have so far rarely raised amounts in the 3-digit millions on the US-American Stock Exchange.

BioNTech specializes in the fight against cancer and infectious diseases and combines all important disciplines of precise and individualized immunotherapy under one roof - from diagnostics to drug development and production. The company is working on both individualized mRNA-based drugs and novel antibodies for the immunomodulation of checkpoint inhibitors and low-molecular-weight compounds. The company's technologies are regarded as very advanced. In the past, the Mainz-based company was able to collect large sums of money in financing rounds. In July, the company announced the conclusion of an oversubscribed financing round in the amount of 290 million euros (325 million US-dollars). In January 2018, BioNTech raised 225 million euros (approximately 270 million US-dollars).