The German biotech business BioNTech SE has acquired Tunisian-based enterprise artificial intelligence (AI) startup InstaDeep in a deal that might ultimately be worth GBP562 million (US $684 million) to its shareholders.
InstaDeep, which was established in Tunisia in 2014 but has now gone worldwide, is a provider of AI products and solutions for the corporate market. InstaDeep also has offices in Paris, Tunis, Lagos, Cape Town, Dubai, and London.
InstaDeep uses deep reinforcement learning and other cutting-edge machine learning approaches to build AI systems that can optimise decision-making processes in actual industrial settings. It is powered by high-performance computers and remarkable research and development accomplishments.
The purchase is in line with BioNTech’s aim to establish global leadership in AI-driven drug discovery and the creation of next-generation immunotherapies and vaccines to treat serious medical needs. About 240 highly qualified workers, including teams in AI, ML, bioengineering, data science, and software development, are anticipated to join BioNTech’s workforce as a result of the deal, which unites two organisations with similar cultures.
Through the purchase, BioNTech will widen its network of international research partners in the area and increase its presence in important talent centers throughout the US, Europe, Africa, and the Middle East.
“AI is progressing exponentially and our mission at InstaDeep has always been to make sure it benefits everyone. We are very excited to join forces and become one team with BioNTech, with whom we share the same culture of deep tech innovation and focus on positive human impact,” said Karim Beguir, CEO and co-founder of InstaDeep. “Together, we envision building a world leader that combines biopharmaceutical research and AI with the aim to design next-generation immunotherapies that enhance medical care – thus, helping fight cancer and other diseases.”
Subject to normal closing requirements and regulatory clearances, the deal is anticipated to conclude in the first half of 2023. After the deal is completed, InstaDeep will function as a worldwide subsidiary of BioNTech located in the UK, and it is anticipated that it will serve as the focal point of a growing portfolio of AI and ML-related efforts at BioNTech.