BioNTech closes $325mm upsized Series B; proceeds amended to $230mm

BioNTech SE (immunotherapies) raised $325mm through an upsized Series B round, the largest biopharma Series B recorded in Strategic Transactions. Fidelity Management & Research led and was joined by Redmile Group (led the company's $270mm Series A last year), Invus, Mirae Asset Financial Group, Platinum Asset Management, Jebsen Capital, Steam Athena Capital, BVCF Management, and the Struengmann Family Office. Proceeds will fund continued development and manufacturing activities. The company has seven candidates in its pipeline (in eight trials) including a lead neoepitope therapy being developed with partner Genentech that is entering Phase II for metastatic melanoma and in earlier trials for other solid tumors.