Home Equities Score BioNTech SE Inc. (NASDAQ: BNTX) stock rises during pre-market trading. Here’s what’s...

BioNTech SE Inc. (NASDAQ: BNTX) stock rises during pre-market trading. Here’s what’s happening?

In the pre-market session BioNTech SE Inc. (NASDAQ: BNTX) stock rises by 8.11% while the BNTX stock price gained by 9.35% at last close. Biopharmaceutical New Technologies is a next-generation immunotherapy firm that is developing innovative cancer and other severe disease treatments. BNTX uses a variety of computational discovery and therapeutic drug platforms to produce new biopharmaceuticals quickly.

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Significant Development

BNTX reported today that it will extend its global presence to Asia by establishing a Regional Headquarters for South East Asia in Singapore. BioNTech aims to build a fully incorporated mRNA manufacturing facility in Singapore with funding from the Singapore Economic Development Board, in addition to choosing Singapore as its future regional headquarters. BioNTech’s growing pipeline of mRNA-based product candidates will be supplied regionally and globally, as well as a rapid response manufacturing capability for South East Asia to counter future pandemic risks.

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The new mRNA manufacturing facility will use cutting-edge manufacturing and digital infrastructure to support BioNTech’s goal of developing next-generation immunotherapies to improve people’s health around the world. It will be capable of developing a variety of new mRNA drugs and therapeutics for infectious diseases and cancer. The proposed site would have fully advanced and end-to-end mRNA processing facilities through drug material, drug product, and fill-and-finish, with an annual capability of hundreds of millions of doses of mRNA-based vaccines, depending on the vaccine.

Furthermore,

Subject to planning permission, BioNTech expects to launch its Singapore office and begin construction on the manufacturing facility in 2021. The site may be operational as early as 2023, according to BNTX, and would generate up to 80 jobs in Singapore

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Ugur Sahin, M.D., CEO and Co-founder of BioNTech said that BNTX’s distribution network now has several nodes, which is a significant strategic development in expanding their geographic presence and capabilities. BNTX will improve its total network capability and extend their ability to produce and distribute BNTX’s mRNA vaccines and treatments to people all over the world with this planned mRNA manufacturing plant.

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