Pfizer collaborates with BioNTech to develop coronavirus vaccine

By Nikita Chaurasia  | Date: 2020-03-17

Pfizer collaborates with BioNTech to develop coronavirus vaccine

Increasing numbers of coronavirus cases worldwide have prompted researchers to develop a potential vaccine candidate to treat COVID-19 patients. Pfizer Inc., one of the leading American pharmaceutical companies, has reportedly collaborated with BioNTech SE, an immunotherapy organization pioneering novel therapies for cancer and other serious diseases, to further this cause.

Sources cite that both the companies have agreed to a LOI (letter of intent) regarding the co-development and distribution of potential mRNA-based vaccines for the treatment of COVID-19. The companies have also inked material transfer and collaboration agreements to facilitating immediate working. 

Mikael Dolsten, President and Chief Scientific Officer, Worldwide Research, Development & Medical, Pfizer, said that the company’s successful and on-going relationship with BioNTech gives both the firms the resiliency to mobilize combined resources with exceptional speed in the face of this global challenge.

Integrating Pfizer’s regulatory, development and commercial capabilities with BioNTech’s mRNA vaccine technology and expertise would strengthen their company’s commitment to combatting this increasing pandemic as soon as possible.

Ugur Sahin, CEO and Co-Founder of BioNTech, said that this global pandemic demands for a worldwide effort. With this collaboration, BioNTech believes that it can fuel efforts to bring a COVID-19 vaccine for treating people across the globe.

Moreover, the two companies expects to leverage several research and development sites, including that in the U.S and Germany, to house the actions identified by the collaboration agreement.

Reliable reports claim that BioNTech and Pfizer are expected to team up quickly and finalize the conditions of the agreement such as financial terms, manufacturing, potential commercialization, and development activities over the next few weeks.

Meanwhile, on March 13, 2020, Pfizer declared a five-point plan calling on the biopharmaceutical companies to join the organization in committing to extraordinary collaboration to tackle COVID-19.

Source Credit - https://www.pfizer.com/news/press-release/press-release-detail/pfizer_and_biontech_to_co_develop_potential_covid_19_vaccine

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Indian food delivery giant Swiggy to buy Dineout from Times Internet

By Nikita Chaurasia

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where it will c...

Grocery delivery platform Instacart files for U.S. stock market debut

Grocery delivery platform Instacart files for U.S. stock market debut

By Nikita Chaurasia

Instacart, a grocery delivery service, has announced that it has submitted a provisional registration statement with the Securities and Exchange Commission (SEC), clearing the way for the company to list its shares on the U.S. stock exchange. The ...

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

By Nikita Chaurasia

American food major Tyson Foods Inc. has reportedly improved its full-year sales outlook after witnessing better-than-expected earnings and revenue in the last quarter. The company raised its full-year sales to around USD 54 billion, above the averag...

EU likely to enforce new rules to regulate tech giants in spring 2023

EU likely to enforce new rules to regulate tech giants in spring 2023

By Nikita Chaurasia

The Executive Vice President of the European Commission Margrethe Vestager reportedly claimed that the union is likely to start enforcing the Digital Markets Act (DMA) in the spring of 2023. The antitrust legislation, which aims to limit the power of...

India teams up with Japan to develop affordable EV charging standard

India teams up with Japan to develop affordable EV charging standard

By Nikita Chaurasia

India and Japan are reportedly working on a joint initiative to develop a standard for electric vehicle charging in emerging markets. The duo will use Japan’s protocols to make easier-to-install and operate EV charging stations. The CHAdeMO ...