Couple behind Covid vaccine to leave BioNTech for new venture

The founders of BioNTech, the German biotechnology company noted for its successful Covid-19 vaccine, are set to depart by the end of the year. Ugur Sahin, the chief executive, and Ozlem Tureci, the chief medical officer, announced their plans to launch a new start-up. They expressed their desire to once again be pioneers in the biotechnology sector.

This announcement coincided with reduced revenue forecasts for BioNTech, which negatively affected its stock price, causing shares to drop roughly 20 per cent to about $80 on the Nasdaq index. This decline wiped billions off the company’s market value, pushing it toward its lowest stock prices since August 2024.

From its modest beginnings in 2008, BioNTech became a significant player in the healthcare industry due to its partnership with Pfizer to develop the world’s first approved mRNA Covid-19 vaccine. Following its launch in 2021, the vaccine garnered extensive global distribution agreements. The company’s shares reached a peak of around $389 five years ago, driven by its vaccine’s success.

Both Sahin and Tureci, who are children of Turkish immigrants and met in a cancer ward at a German university hospital, have received numerous accolades, including Germany’s highest honour, the Order of Merit. Their new venture will focus on developing next-generation mRNA therapies, aimed at combating a range of diseases such as influenza, malaria, and HIV.

Sahin, whose net worth is estimated at $3.5 billion by Forbes, holds a 16.4 per cent stake in BioNTech. He stated that the company has evolved into a global biopharmaceutical enterprise with a diversified pipeline after nearly two decades of hard work. BioNTech, which plans to support the new venture through rights and technologies, will continue to concentrate on its late-stage pipeline, including mRNA-based cancer treatments. The company expects to have 15 phase III clinical trials in oncology by year’s end.

BioNTech has invested funds from its vaccine developments into a series of acquisitions, including a £562 million deal to acquire London-based InstaDeep. The firm also agreed to purchase CureVac, a smaller competitor, for approximately $1.25 billion, consolidating its position in the vaccine development field.

Analysts from Leerink Partners suggest that BioNTech is navigating a critical transition as it evolves from a founder-led organisation to a more industrialised and commercial pharmaceutical company. This transition is crucial as BioNTech continues to develop personal cancer vaccines in collaboration with the NHS and expands its research initiatives.

Despite a net loss that doubled to €1.1 billion last year on revenue of €2.9 billion, BioNTech remains focused on advancing its innovative pipeline, underscoring its commitment to pioneering in the biopharmaceutical landscape.