Germany’s BioNTech buys British AI startup InstaDeep

(Reuters) -BioNTech SE has agreed to acquire the British artificial intelligence (AI) startup InstaDeep for up to 562 million pounds ($682 million) to speed up its biotech research beyond COVID shots. Under the German vaccine maker’s largest takeover deal to date, BioNTech is to pay 362 million pounds upfront, in a mix of cash and an unspecified number of BioNTech shares, and up to 200 million pounds contingent on InstaDeep’s future performance, it said on Tuesday. The transaction adds to a slew of deals as the industry meets in San Francisco for the annual JP Morgan healthcare conference this…

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