Shots:

• BioNTech to receive $185M up front- including $72M cash & $113M equity investment- up to $563M as milestone making a total deal value $748M. The companies will equally share the development cost while Pfizer will fund 100% of development cost at the initial level and BioNTech will repay Pfizer its 50% share during the commercialization of the vaccine
• The two companies plan to jointly conduct clinical studies for the COVID-19 vaccine candidates initially in the US and EU with the expected initiation of the first clinical study as early as the end of Apr’2020
• BioNTech will provide multiple mRNA vaccine candidates as part of its BNT162 COVID-19 vaccine program while Pfizer will contribute its global vaccine clinical research and development- regulatory- manufacturing and distribution infrastructure and capabilities

Click here ­to­ read full press release/ article | Ref: Pfizer | Image: Pfizer