(Yicai) Nov. 14 -- BioNTech has agreed buy Chinese biopharmaceutical firm Biotheus for USD800 million to strengthen its oncology drugs pipeline.

Under the terms of the deal, BioNTech will pay USD800 million mainly in cash for all of Zhuhai-based Biotheus, the German buyer announced yesterday, with additional milestone payments of as much as USD150 million.

The agreement will give BioNTech the rights to Biotheus’ pipeline of drug candidates and its bispecific antibody drug development platform, further expanding its presence in China. Biotheus Zhuhai will serve as BioNTech’s research and development center in China, and more than 300 Biotheus staff will move over to BioNTech. 

BioNTech’s Nantong production site, which complies with international standards, will contribute to the future global production and supply of BioNTech's products, the Mainz-based company added. 

BioNTech recently partnered with several Chinese biopharma companies in the field of popular antibody-drug conjugates that treat cancer. Earlier this year, it struck a deal with MediLink Therapeutics for the worldwide rights to its new ADC drug, with a potential total transaction value of more than USD1 billion.

Previously, BioNTech also agreed to work on developing ADC drugs with Duality Biologics, in a deal worth over USD2 billion.

Founded in 2018, Biotheus’ main business includes biotech, cell therapy technology and related R&D, as well as research of new antibody drugs and anti-cancer drugs.

Editor: Tom Litting