Investors Want to Develop Biontech into A Pharmaceutical Company
Main investor Thomas Strungmann wants to turn the vaccine developer into an “independent, fully integrated pharmaceutical company from Germany”. He rules out a sale in the long term.
After the approval of the world’s first corona vaccine, majority owner Thomas Strungmann set up an ambitious growth plan for Biontech. In an interview the main investor describes how “step by step” the Mainz biotech company is to become an independent, research-based pharmaceutical company in Germany for the first time in decades.
Financier Strungmann, whose fortune comes from the sale of the generics manufacturer Hexal, has been investing in biotech companies together with his brother Andreas for around 15 years. He holds a good 50 percent of Biontech. With the vaccine, Biontech showed “the power of the new mRNA technology”, explains Strungmann. This means that his wish to develop a highly innovative company has come true faster than he thought.
Despite the increase in value on the stock exchange, he does not want to sell the company. “Everyone in the industry knows that we are only at the beginning with Biontech. Our strategy is to build up the company first, not to sell it”. No recovery is planned in the long term either.
Investors Want to Develop Biontech into A Pharmaceutical Company - /10