BioNTech to Build Headquarters in Singapore, Intends to Produce Million COVID Shots for Southeast Asia

BioNTech and Pfizer’s BNT162b2 is the first mRNA vaccine in the world to receive regulatory approval, albeit for emergency use. It is also the first COVID-19 vaccine to be approved in the US and the UK. As the pandemic has worsened, BioNTech has announced plans to expand global production efforts and increase vaccine availability in Southeast Asia.

A New Headquarters in Singapore

On May 10th, BioNTech announced its plan to establish a new headquarters in Singapore this year and increase its reach in Southeast Asia countries.

On top of that, the Germany-based firm will build a manufacturing facility with the help of the Singapore Economic Development Board. It would be its first mRNA production facility outside Europe.

BioNTech said that the facility will go into construction in 2021 and be fully operational in 2023, creating 80 jobs in Singapore. Furthermore, the facility will incorporate automated technology and produce BioNTech’s mRNA products, realizing its goal of producing up to one million shots annually.

“Having multiple nodes in our production network is an important strategic step in building out our global footprint and capabilities,” said Ugur Sahin, M.D., CEO and Co-founder of BioNTech. “With this planned mRNA production facility, we will increase our overall network capacity and expand our ability to manufacture and deliver our mRNA vaccines and therapies to people around the world.”

A Joint Venture in China with Fosun Pharma

On top of this, on May 8th, BioNTech and China’s Fosun Pharma have formed an equally-shared $200 million joint venture company for COVID-19 vaccine production and commercialization.

Under the agreement, BioNTech will provide intangible assets that are less than $100 million, such as licenses of relevant manufacturing technology and know-how. Fosun Pharma then will provide assets, including cash, for less than $100 million in total. Moreover, Fosun shall provide a manufacturing facility that has the capacity to produce 1 billion shots a year to help the production of BioNTech’s vaccine.

The announcement comes at a time when media reports point to a foreign vaccine approval in China. In April, the Wall Street Journal reported that China is planning on approving a foreign vaccine as soon as July. BioNTech’s BNT162b2 might be a strong contestant for the same.

Currently, China has only approved vaccines that are locally produced. If BNT162b2 is approved, it would be the first foreign vaccine to be approved in China.

Related Article: FDA Authorizes Pfizer/BioNTech’s COVID-19 Vaccine for 12 to 15 Year Olds

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Author

Tyler Chen

"Never go to a doctor whose office plants have died."- Erma Bombeck