BioNTech (NASDAQ: BNTX) announced on Monday that it was establishing its first mRNA manufacturing facility in Singapore by acquiring a GMP-certified (good manufacturing practice) manufacturing facility.
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The German biotech company stated that its Singapore affiliate BioNTech Pharmaceuticals Asia Pacific had entered into an agreement with Novartis Singapore Pharmaceutical Manufacturing to acquire one of its GMP-certified manufacturing facilities.
This acquisition is a part of BNTX’s strategy to expand its global footprint in Asia. BioNTech expects that this facility will be fully operational late next year and is likely to create more than 100 jobs.
Dr Sierk Poetting, COO of BioNTech commented, “The acquisition gives us the opportunity to accelerate the establishment of a state-of-the-art mRNA manufacturing facility and thus to create capacity more quickly for potential clinical studies and commercial supply of our mRNA vaccines and therapeutics for the region.”
