BioNTech acquires Tunisian-born and U.K-based AI startup InstaDeep for £562M

German-based biotech company BioNTech SE is set to acquire InstaDeep, a Tunis-born and U.K.-based artificial intelligence (AI) startup InstaDeep for up to £562 million (~$680 million) in its largest deal yet.
Per The Financial Times, the German vaccine maker intends to use InstaDeep’s machine learning to “improve its drug discovery process, including developing personalised treatments tailored to a patient’s cancer.”
BioNTech is said to pay £362 million — a mix of cash and an undisclosed amount of BioNTech shares — upfront. The remaining £200 million is dependent on on how InstaDeep performs i

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