BioNTech SE Acquires Singapore Manufacturing Facility The Daily Financial Trends

BioNTech

BioNTech SE, fresh off its success on its joint Covid-19 mRNA vaccine development with Pfizer, has acquired a manufacturing facility in Singapore, its first Asian manufacturing facility.

Purchased from a unit of Novartis, the facility will be its first messenger ribonucleic acid, or mRNA manufacturing plant in Singapore. It will be used to support the company’s vaccine production in the Asian Pacific region, according to a statement released by the company.

mRNA vaccines are advertised as safer than traditional vaccines because they produce proteins from a pathogen, without actually exposing the body to the pathogen.

The facility is planned to also function as a regional headquarters and will initially be used for manufacturing a whole range of mRNA-based experimental product candidates, as well as authorized pharmaceuticals, which may include the Covid-19 vaccine.

The company hopes to eventually expand the production capabilities of the facility to other drug classes, such a cell therapies. BioNTech also hopes to set up other research and manufacturing centers in Asia.

The Singapore manufacturing center is expected to enter full operation by 2023, and be employing over 100 workers by 2024.

The Daily Financial Trends