Biontech, an immunotherapy spinout of Johannes Gutenberg University Mainz, has received an undisclosed amount of equity funding as part of a collaboration deal that could reach $425m.

Pharmaceutical firm Pfizer made an equity investment of undisclosed size in Germany-based immunotherapy developer Biontech yesterday through a multi-year research and development collaboration worth up to $425m altogether. The agreement concerns the development of flu vaccines. Biontech will get a total of $120m in upfront, equity and near-term research funding and up to $305m more…

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