: BioNTech to acquire AI company

BioNTech SE BNTX said Tuesday that it plans to acquire InstaDeep Ltd., a privately held provider of artificial intelligence and machine learning, for £362 million ($439.2 million), with milestone payments up to £200 million ($242.6 million). BioNTech first collaborated with the company in 2020 as part of its goal to build out AI-driven drug discovery capabilities. The deal is expected to close in the first half of the year. BioNTech’s stock is up 9.9% over the past three months, while the S&P 500 SPX is up 6.9%.

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