Pfizer and BioNTech Detail COVID-19 Vaccine Collaboration Plans
Pfizer and German firm BioNTech have announced updated details for their collaboration to speed up the development of COVID-19 vaccines. The companies aim for millions of doses by year-end 2020.
New York and Mainz – Pfizer Inc. and Germany-based BioNTech SE have provided further details on their partnership aimed at accelerating COVID-19 vaccine candidates. The collaboration seeks to quickly advance multiple BioNTech mRNA vaccine candidates into human clinical testing and ensure worldwide access upon approval.
The companies plan to initiate the first clinical trials in the United States and Europe as early as April 2020, pending regulatory clearance. Pfizer will leverage its extensive vaccine research, development, manufacturing, and distribution infrastructure and capabilities.
BioNTech will supply clinical doses from its manufacturing facilities, and both companies intend to scale up manufacturing capacity at risk to support global supply in response to the pandemic. Under the agreement, Pfizer will make an upfront payment of $185 million to BioNTech, including an equity investment of approximately $113 million. BioNTech is also eligible for future milestone payments of up to $563 million.
Millions of vaccine doses could potentially be supplied by the end of 2020, with hundreds of millions in 2021, subject to technical success and regulatory approval. Pfizer and BioNTech will share development costs equally, with BioNTech repaying its share during the commercialization phase.