BioNTech has agreed to buy UK artificial intelligence start-up InstaDeep for up to £562mn in its biggest ever deal, as the German company expands beyond the Covid-19 vaccine that transformed its fortunes.
The biotech company is trying to harness machine learning to improve the drug discovery process, including developing personalised treatments tailored to a patient’s cancer.
The deal follows a multiyear collaboration with London-based InstaDeep that created an early warning system to predict future variants of the Sars CoV-2 virus. BioNTech invested in a £100mn fundraising round by InstaDeep last year.
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