BioNTech paying initial $250m for Autolus strategic collaboration

Autolus is a clinical-stage biopharma company developing nextgen programmed T cell therapies and BioNTech an immunotherapy company pioneering novel therapies for cancer and other serious diseases.

The collaboration is aimed at advancing both companies' autologous CAR-T programs towards commercialisation, pending regulatory authorisations. In connection with the strategic collaboration, the companies entered into a licence and option agreement and a securities purchase deal.

BioNTech has agreed to buy $200 million of Autolus' American Depositary Shares in a private placement. BioNTech will have a right to appoint a director to the Autolus board.

The agreement was announced by Syncona Ltd, a leading life science investor focused on creating, building and scaling global leaders in life science; Autolus is a Syncona portfolio company. BioNTech will also make a cash payment of $50m and is granted a number of rights in exchange.

BioNTech, headed up by CEO and famed oncologist Uğur Şahin, is eligible to receive an up to mid-single digit royalty on obe-cel net sales. Autolus will retain full rights to and control of the development and commercialisation of obe-cel – an autologous CD19 CAR T cell therapy with a unique CD19 CAR.

BioNTech has the option to access Autolus' commercial and clinical site network, manufacturing capacities in the UK and commercial supply infrastructure in a cost-efficient set-up in order to accelerate the development of BNT211 in additional CLDN6+ tumour types.

BioNTech plans to have 10 or more ongoing potentially registrational clinical trials in the pipeline by the end of 2024, including its fully owned CLDN6 CAR-T program BNT211 in relapsed or refractory germ cell tumours.

Autolus will lead the development and commercialisation for AUTO1/22 and AUTO6NG in any oncology indication with BioNTech having an option to support certain development activities and co-commercialise both candidates in certain territories.

If BioNTech exercises an option, it will receive a profit share with respect to such exercised product candidate worldwide while Autolus will be eligible to receive an option exercise fee, milestone payments and co-funding of development expenses.

Autolus has granted BioNTech an exclusive licence to develop and commercialise therapeutics incorporating certain of Autolus' proprietary binders along with options to license binders and cell programming technology for use in BioNTech's in vivo cell therapy development programs and investigational antibody-drug conjugates.

If BioNTech exercises an option, Autolus will be eligible to receive exercise fees and milestones payments, with low-single digit royalties on net sales of the licensed products.