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BioNTech To Receive Up To €375 Mln In Funding From German To Support COVID-19 Vaccine Program

BioNTech (BNTX) said Tuesday that it will receive a grant of up to 375 million euros from an initiative by the German Federal Ministry of Education and Research or BMBF to support the accelerated development of SARS-CoV-2 vaccines.

BioNTech said it will use the milestone-based BMBF funding to support its contribution to the company's mRNA vaccine program BNT162 that is being co-developed with its partners Pfizer Inc. and Fosun Pharma respectively.

The BNT162 vaccine program is one of three programs supported by the BMBF initiative, which will provide a total of up to 750 million euros to its funding recipients.

Pfizer will continue to independently fund its share of development costs for BNT162 without use of this or other government funding.

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