BNTX BioNTech SE

By Clarence Leong

BioNTech SE has acquired a manufacturing facility in Singapore from Novartis AG as the German biotechnology company aims to expands its presence in Asia.

The plant will be BioNTech's first mRNA manufacturing facility in Singapore and serve as its regional headquarters, BioNTech said Monday.

The facility, slated to be fully operational in late 2023, will have an expected annual production capacity of "up to several hundred million doses of mRNA-based vaccines," the company said. It will also create more than 100 jobs in the city-state by 2024, it said.

The project supports the company's growing pipeline of mRNA-based vaccines and therapeutics across Asia-Pacific for commercial and clinical scale, and production could expand to other drug classes such as cell therapies, BioNTech said.

BioNTech didn't disclose financial details of the deal.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

November 13, 2022 23:29 ET (04:29 GMT)

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