Already partners on bispecific, BioNTech buys Biotheus for $800M

By buying out China-based partner Biotheus for $800 million up front, BioNTech will receive full global rights to a bispecific antibody that could compete with established blockbuster Keytruda, as well as a pipeline and platform to generate and advance more bispecifics efficiently.

The deal will give BioNTech SE (NASDAQ:BNTX) full control of PD-L1 x VEGF inhibitor BNT327 (PM8002), a clinical bispecific in the same class as ivonescimab from Akeso Inc. (HKEX:9926). BioNTech already held rights to BNT327 outside Greater China under a November 2023 deal...