Market Overview

BioNTech Signs Collaboration Agreement with Pfizer to Develop mRNA-based Vaccines for Prevention of Influenza


BioNTech will receive $120 million in upfront, equity and near-term
research payments from Pfizer and will be eligible to receive up to $305
million in potential development, regulatory and commercial milestone
payments and up to double-digit royalties

Partnership brings together Pfizer's leadership in vaccines with
BioNTech's expertise in mRNA technology

BioNTech AG, a rapidly growing biotechnology company focused on precise
immunotherapies for the treatment of cancer and infectious disease,
today announced that it has entered into a multi-year research and
development (R&D) collaboration with Pfizer Inc. (NYSE:PFE) to develop
mRNA-based vaccines for prevention of influenza (flu).

Under the terms of the agreement, BioNTech and Pfizer will jointly
conduct research and development activities to help advance mRNA-based
flu vaccines. Pfizer will assume sole responsibility for further
clinical development and commercialization of mRNA-based flu vaccines,
following BioNTech's completion of a first in human clinical study.

BioNTech will receive $120 million in upfront, equity and near-term
research payments and up to an additional $305 million in potential
development, regulatory and commercial milestone payments. In addition,
BioNTech will receive up to double-digit tiered royalty payments
associated with worldwide sales if the program reaches commercialization.

BioNTech is an industry leader in mRNA vaccine approaches with validated
science, innovative manufacturing expertise and a broad understanding of
the clinical applications of this technology.

"Today's agreement with Pfizer is one of a number of steps that we are
taking to rapidly build a sustainable R&D presence in infectious
disease, combining our deep understanding of the immune system to treat
disease with the cutting-edge technologies and significant
infrastructure that we have built-up over many years to develop
immunotherapy treatments," said Prof. Dr. Ugur Sahin, Co-Founder and
CEO of BioNTech.
"A significant presence in infectious disease
supports our goal of building a global immunotherapy company that
provides more effective and precise immune-mediated approaches for the
prevention and treatment of serious illnesses, such as the prevention of
flu and the treatment of cancer."

Kathrin Jansen, Senior Vice President and Head of Pfizer's Vaccine
Research and Development Unit said,
"Innovative vaccine approaches
are urgently needed to provide improved protection against seasonal flu,
and to respond rapidly and in quantity to pandemic influenza threats.
mRNA vaccines offer a novel approach to code for any protein or multiple
proteins, and the potential to manufacture higher potency flu vaccines
more rapidly and at a lower cost than contemporary flu vaccines.
BioNTech is one of the industry leaders in mRNA technology and we are
looking forward to working closely with them to help bring cutting-edge
mRNA influenza vaccines to the market to improve people's lives."

About BioNTech

BioNTech is Europe's largest privately-held biopharmaceutical company
pioneering the development of individualized therapies for cancer and
other diseases. The Company combines all building blocks for
individualized immunotherapy under one roof – from diagnostics and drug
development to manufacturing. Its cutting-edge technologies range from
individualized mRNA-based medicines through innovative chimeric antigen
receptors and T-cell receptor-based products to novel checkpoint
immunomodulators and small molecules. BioNTech's commercial approach is
validated by five top-tier corporate partnerships with Genentech,
Genmab, Eli Lilly, Sanofi and Bayer Animal Health and its scientific
approach through over 60 peer-reviewed scientific publications,
including five publications in Nature. Founded in 2008, BioNTech's
financial shareholders include the Struengmann Family Office as its
majority shareholder, Fidelity Management & Research Company, Invus,
Janus Henderson Investors, MIG Fonds, Redmile Group, Salvia and several
European family offices.

For more information, see

About Pfizer: Working together for a healthier world®

At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world's
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world's
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, we have worked to make a difference for all who
rely on us. We routinely post information that may be important to
investors on our website at
In addition, to learn more, please visit us on and
follow us on Twitter at @Pfizer and @Pfizer_News, LinkedIn, YouTube and
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DISCLOSURE NOTICE: The information contained in this release
is as of August 16, 2018. Pfizer assumes no obligation to update
forward-looking statements contained in this release as the result of
new information or future events or developments.

This release contains forward-looking information about mRNA-based
vaccines for prevention of influenza (flu) and Pfizer's and BioNTech's
collaboration to develop such vaccines, including their potential
benefits that involves substantial risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statements. Risks and uncertainties include, among other
things, the uncertainties inherent in research and development,
including the ability to meet anticipated clinical study commencement
and completion dates as well as the possibility of unfavorable study
results, including unfavorable new clinical data and additional analyses
of existing data; risks associated with preliminary data; the risk that
clinical trial data are subject to differing interpretations, and, even
when we view data as sufficient to support the safety and/or
effectiveness of any potential product candidate, regulatory authorities
may not share our views and may require additional data or may deny
approval altogether; whether and when drug applications may be filed in
any jurisdictions for any potential indications for Pfizer's and
BioNTech's potential vaccine candidate for prevention of influenza
(flu); whether and when any such applications may be approved by
regulatory authorities, which will depend on the assessment by such
regulatory authorities of the benefit-risk profile suggested by the
totality of the efficacy and safety information submitted; decisions by
regulatory authorities regarding labeling and other matters that could
affect the availability or commercial potential of Pfizer's and
BioNTech's potential vaccine candidate for prevention of influenza
(flu); and competitive developments.

A further description of risks and uncertainties can be found in
Pfizer's Annual Report on Form 10-K for the fiscal year ended December
31, 2017 and in its subsequent reports on Form 10-Q, including in the
sections thereof captioned "Risk Factors" and "Forward-Looking
Information and Factors That May Affect Future Results," as well as in
its subsequent reports on Form 8-K, all of which are filed with the U.S.
Securities and Exchange Commission and available at and

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