in , , , , , , ,

Tunisian-based AI startup InstaDeep was purchased for $684 million.


In a deal that could be worth as much as $684 million, the German biotech company BioNTech SE bought the Tunisian AI startup InstaDeep.

The acquisition is consistent with BioNTech’s goal of establishing global leadership in AI-driven drug discovery as well as the development of next-generation immunotherapies and vaccines to cure critical medical needs.

After the deal is done, InstaDeep will be a global subsidiary of BioNTech based in the UK. It is expected to become the center of BioNTech’s growing list of AI and ML-related projects.

InstaDeep was started in Tunisia in 2014, but it now works all over the world. It sells AI products and services to businesses.

It is run by high-performance computing and research and development that has been very successful.

InstaDeep’s goal has always been to make sure that everyone benefits from the rapid growth of AI. Karim Beguir, CEO and co-founder of InstaDeep, said, “We are really happy to join forces and become one team with BioNTech, with whom we share a culture of profound tech innovation and a focus on the positive impact on humanity.

Together, we want to become a global leader in the combination of biopharmaceutical research and AI, to make next-generation immunotherapies that improve medical care and help treat diseases like cancer and other illnesses.

The transaction is projected to close in the first half of 2023, subject to customary closing conditions and regulatory clearances.

By making the purchase, BioNTech will increase its presence in key talent centers in the US, Europe, Africa, and the Middle East and grow its network of international research partners in the area.




What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Leave a Reply

Your email address will not be published. Required fields are marked *

Kenyan microfinance firm Kuscco has sold its software publishing business to fintech startup Kwara.

KarmSolar, an Egyptian maker of solar panels, has acquired $3 million in debt financing.