The mRNA-focused biotech BioNTech (Nasdaq:BNTX) has partnered with Ryvu Therapeutics (Warsaw Stock Exchange:RVU), which specializes in novel small molecule therapies for emerging oncology targets.
In the deal, Mainz, Germany–based BioNTech will have an exclusive global license to commercialize Ryvu’s stimulator of interferon genes (STING) agonist portfolio. The companies will also partner to develop small molecule programs focused on immune modulation in oncology and potentially other disease areas. The STING agonist collaboration includes both potential monotherapy and therapeutic indications.
BioNTech will pay €40 million in the deal, which includes a €20 million upfront payment plus an equity investment of €20 million. The company will also provide additional research funding. The company could also potentially pay R&D and commercial milestone payments as well as low single-digit royalties.
BNTX shares were up 2% to $167.02. Ryvu’s shares surged 2…