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BioNTech Stock Jumps As It Plans New mRNA Manufacturing Facility In Singapore By 2023

05/10/2021 06:45
  • BioNTech SE (NASDAQ: BNTXwill set up its Southeast Asia headquarters in Singapore and build a manufacturing facility to produce its messenger RNA vaccines and other medicines to treat infectious diseases and cancer.
  • The new site would produce hundreds of million doses of mRNA-based vaccines each year, depending on the specific vaccine.
  • The site will have automated and end-to-end mRNA production capabilities across drug substance, drug product, and fill-and-finish.
  • Construction will start this year, and it could be operational as early as 2023, allowing the firm to scale up production for Southeast Asia to address future pandemic threats.
  • BioNTech’s expansion is supported by the Singapore Economic Development Board, a government agency under the trade ministry. The venture is expected to create up to 80 additional jobs in the country.
  • “Having multiple nodes in our production network is an important strategic step in building out our global footprint and capabilities,” said Ugur Sahin, CEO, and co-founder of BioNTech.
  • Price Action: BNTX shares are trading 9.5% higher at $201.1 in the premarket session on the last check Monday