The Mainz-based pharmaceutical company Biontech, which became known worldwide at the end of 2020 for its rapid development of a vaccine against Covid-19, is on track to receive its first approval for a cancer drug. Since 2021, the biotech company has been placing greater emphasis on its oncology projects again. „While we continue to invest significantly in the implementation of our strategy, our operational and financial measures are showing the first tangible results,“ said Chief Financial Officer Ramón Zapata.

Biontech co-founder and CEO Ugur Sahin said: „In the second quarter of 2025, we took significant steps toward developing Biontech into a biotechnology company with multiple approved products by strengthening the two central pillars of our oncology strategy.“ Sahin and Zapata referred to the billion-dollar partnership agreed in June with US pharmaceutical company Bristol Myers Squibb (BMS) for the cancer drug BNT327 and the planned takeover of Tübingen-based competitor Curevac. „The strategic collaboration with BMS will further strengthen our revenue and liquidity position,“ said Zapata. Biontech and BMS had agreed on the joint global development and commercialisation of one of the most promising drug candidates for the treatment of cancer. For this, BMS will make an upfront payment of 1.5 billion dollars in the current quarter, „which we expect to realise as revenue over the development phase of BNT327.“

More than 20 studies involving more than ten tumour types have already been planned or started for the antibody BNT327, which is at the heart of Biontech's strategy. A pivotal Phase 3 study in an aggressive form of breast cancer is also set to begin this year. Late-stage studies are also already underway for the treatment of lung cancer. At the same time, Biontech is pushing ahead with its mRNA-based cancer immunotherapies, for which the company intends to strengthen its technology platform through the approximately 1.25 billion dollar acquisition of Curevac. The planned acquisition of the former German competitor from Tübingen complements the company's own capabilities in mRNA technology, which is based on the blueprints of the body's own proteins, Sahin explained.

The largest shareholder in Curevac, with a 31.3% stake, is the biotech holding company Dievini, owned by SAP co-founder Dietmar Hopp. Dievini has signed an agreement to tender its shares, subject to regulatory conditions, Biontech announced earlier. The German government has also confirmed that it is fundamentally positive about the deal. KfW holds a 13.3% stake in Curevac on behalf of the Federal Republic of Germany.

Meanwhile, the Covid-19 vaccine business continues. In July, Biontech received EU approval for a vaccine adapted to a new virus variant. Delivery is scheduled to begin in August. A corresponding application is still under review by the US Food and Drug Administration (FDA).

Biontech expects vaccination rates to decline slightly. In the long term, however, combination vaccines, such as with a flu vaccine, are expected to supplement and gradually replace the standalone Covid vaccines.

Biontech more than doubled its revenue in the second quarter and more than halved its loss. This was due to higher revenues from the Covid vaccine partnership with Pfizer. From April to the end of June, revenue amounted to 260.8 (previous year: 128.7) million euros. The deficit fell to 386.6 (808) million euros.

In the second quarter of last year, the result was impacted by, among other things, a provision for a settlement with the US National Institutes of Health (NIH) in a patent dispute. The NIH is a federal agency that conducts (approx. 20%) and funds (approx. 80%) medical research.

For 2025, Biontech continues to expect a decline in sales of 1.7 billion to 2.2 (2.75) billion euros; the majority of revenues are expected to flow in the last four months of the year. In return, research and development expenses are expected to rise significantly to between 2.6 billion and 2.8 (2.3) billion euros.

The costs for the development of BNT327 will be shared equally with partner BMS in the future. However, the funds freed up as a result will be reallocated to other programmes, such as mRNA-based cancer therapies and further antibody-drug conjugates (ADCs), Zapata explained. R&D expenditure is therefore likely to increase further in the second half of the year.

Biontech shares rose 4% in early trading on the Nasdaq.

The market capitalisation is just under 27 billion dollars.