New Corona vaccine developer ``BioNTech'' announces acquisition of AI startup ``InstaDeep'' to aim for cancer treatment
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Germany-based biotech company BioNTech has been working with Pfizer to develop a vaccine against the novel coronavirus. On January 10, 2023, BioNTech announced that it would acquire InstaDeep , a UK-based AI startup company, for up to £562 million (about ¥90 billion). BioNTech plans to use InstaDeep's machine learning technology to research and develop cancer treatments.
BioNTech to Acquire InstaDeep to Strengthen Pioneering
https://www.globenewswire.com/news-release/2023/01/10/2586013/0/en/BioNTech-to-Acquire-InstaDeep-to-Strengthen-Pioneering-Position-in-the-Field-of- AI-powered-Drug-Discovery-Design-and-Development.html
BioNTech acquires Tunisian-born and UK-based AI startup InstaDeep for £562M | TechCrunch
https://techcrunch.com/2023/01/10/biontech-acquires-tunisian-born-and-uk-based-ai-startup-instadeep-for-562m/
Germany's BioNTech buys British AI startup InstaDeep | Reuters
https://www.reuters.com/markets/deals/biontech-acquire-british-artificial-intelligence-startup-instadeep-2023-01-10/
Founded in 2014 by Karim Begil and Zhora Slim , InstaDeep uses advanced machine learning techniques to provide AI solutions to various companies.
BioNTech's acquisition of InstaDeep is the largest BioNTech acquisition to date, with an upfront payment of £362 million to InstaDeep, followed by up to £200 million, subject to InstaDeep's future performance. It is a contract to pay pounds (about 32.1 billion yen).
'The acquisition of InstaDeep will enable us to integrate AI in the rapidly evolving digital world into BioNTech's technology and research, drug discovery, manufacturing and deployment processes,' said Ulu Shahin , CEO of BioNTech. Our mission is to make BioNTech a technology company where AI is seamlessly integrated into every aspect of how we work.'
BioNTech has also partnered with the UK government to develop personalized medicine for cancer patients using InstaDeep's AI technology, Shahin said.
BioNTech and InstaDeep have already launched several joint projects, including the development of methods to rapidly determine whether novel coronavirus variants are high-risk variants.
BioNTech develops an AI system that identifies ``high-risk mutant strains'' of the new coronavirus about two months earlier than WHO-GIGAZINE
InstaDeep’s Begil said, “Our mission has always been to do research where AI benefits everyone. We aim to develop the next generation of immunotherapies to help fight other diseases.'
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