Nov. 27 Quick Takes: BioNTech grows U.K. presence

Immunotherapy company BioNTech SE (NASDAQ:BNTX) is expanding its footprint in the U.K. and investing about £1 billion ($1.3 billion) over the next 10 years to build a new R&D laboratory in Cambridge and a center of expertise for AI in London. The company already has a presence in the country with an office in London. The announcement, which was part of a broader £29.5 billion investment package arising from the U.K. Global Investment Summit, said the investments would create about 400 new jobs. The deal follows an agreement announced in July in which BioNTech agreed to participate in the U.K.’s Cancer Vaccine Launch Pad and provide up to 10,000 U.K. cancer patients with personalized immunotherapies by 2030.

Six years after its founding to advance programs deprioritized by Pfizer Inc. (NYSE:PFE), SpringWorks Therapeutics Inc. (NASDAQ:SWTX) has received its first drug approval. FDA said late Monday that it approved Ogsiveo nirogacestat to treat desmoid tumors. Last year, the γ-secretase inhibitor met the Phase III primary endpoint of progression-free survival in desmoid tumor patients, while reducing the risk of disease progression by 71% (HR=0.29; 95% CI: 0.15, 0.55; p <0.001). FDA announced the approval after market close, sending shares of SpringWorks up 17% to $27.29 in early after-hours trading...