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BioNTech Acquires AI start-up InstaDeep for £562 million

It is no secret that AI is taking over the world, making revolutionary leaps, breaking boundaries no one thought possible and driving a new age of innovation. It is therefore no surprise that firms are eager to capture such intellectual property to reap the same benefits and tactically improve their operations through AI.

We find ourselves in a world where AI has infiltrated the healthcare industry. However, with AI being such a powerful tool, it only makes logical sense for humans to harness its capabilities for healthcare and welfare improvement.

So, what does this mean for BioNTech?

Clearly, as InstaDeep specialises in AI programming and development, BioNTech’s reasons for acquiring it are to capture this intellectual property. This is particularly useful as advancing medical research has lent itself to more complex drug demands for treatment. Therefore, in a similar fashion, the process for producing such drugs has become increasingly challenging.

Consequently, the opportunity to integrate artificial intelligence in BioNTech’s operations will pave the way for ample opportunity and efficiency. As Uğur Şahin (BioNTech’s chief executive) states, the acquisition will: “allows us to incorporate the rapidly evolving AI capabilities of the digital world into our technologies, research, drug discovery, manufacturing and deployment processes.”

As these two companies are already rooted firmly in the field of medicine there is no doubt their synergies will produce incredible results. The benefits of their forces combined have already been apparent: InstaDeep has been reported by the Financial Times to have already helped BioNTech improve its algorithm to select which parts of a tumour to target to create the most effective therapy. Potentially, this just might be the beginning with a lot more to come.

Other benefits include that BioNTech will grow their workforce with InstaDeep’s 240 highly skilled professionals that span skills and knowledge in various disciplines: AI, ML, bioengineering, data science and software development. Furthermore, through the relationships and global networks InstaDeep has already built with major economies, BioNTech will also have access to these global ties, spreading their influence further.

The transaction aims to close in the first half of 2023. This will be ultimately determined by customary closing conditions and regulatory approvals.

Written by: Siya Goyal

Sources: Financial Times, InstaDeep

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