BioNTech SE has announced an agreement to acquire 100% of the issued share capital of Pumeast Biotechnology Company for $800 million. The transaction will primarily be paid in cash, with a portion involving American Depositary Shares (ADS).
According to the agreement, additional milestone payments of up to $150 million will be made if Pumeast meets certain predefined conditions. The completion of this acquisition is expected in the first quarter of 2025, subject to the fulfillment of customary closing conditions and regulatory approvals.
