In a deal that might be valued up to US$684 Million, German biotech firm BioNTech SE purchased InstaDeep, a Tunisian AI startup founded in 2014.
The purchase is in line with BioNTech’s aim to establish global leadership in AI-driven drug discovery and the creation of next-generation immunotherapies and vaccines to treat serious medical needs.
After the deal is completed, InstaDeep will function as a UK-based global subsidiary of BioNTech and is anticipated to become the focal point of a growing portfolio of AI and ML-related efforts at BioNTech.
InstaDeep, which was founded in Tunisia in 2014 but has now gone global, is a provider of AI products and solutions for the enterprise market.
InstaDeep also has offices in Paris, Tunis, Lagos, Cape Town, Dubai, and London.
InstaDeep uses deep reinforcement learning and other cutting-edge machine learning approaches to build AI systems that can optimize decision-making processes in actual industrial settings.
It is powered by high-performance computing and remarkable research and development accomplishments.
“As AI develops at an exponential rate, InstaDeep’s objective has always been to ensure that everyone benefits from it. According to Karim Beguir, CEO and co-founder of InstaDeep, “We are really happy to join forces and become one team with BioNTech, with whom we share the same culture of deep tech innovation and focus on good human impact. Together, we see becoming a global leader in the fusion of biopharmaceutical research and AI with the goal of creating next-generation immunotherapies that improve medical care and aid in the treatment of diseases like cancer and other illnesses.
Subject to usual closing conditions and regulatory approvals, the deal is anticipated to close in the first half of 2023.
By way of the acquisition, BioNTech will widen its network of international research partners in the area and increase its presence in important talent centers around the US, Europe, Africa, and the Middle East.
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