Under the agreement, Pfizer will pay $185 million U.S. to BioNTech in advances, including a cash payment of $72 million and a $113 million stake. BioNTech is entitled to future milestone payments of up to $563 million for a potential $748 million. Pfizer and BioNTech share development costs equally. Initially, Pfizer will finance 100% of the development costs and BioNTech will reimburse Pfizer for its 50% share of these costs during the commercialization of the vaccine. This press release contains «forward-looking statements» from BioNTech within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may contain information about BioNTech`s efforts to combat COVID-19, but not limited to this: the opening date of clinical trials with BNT162 and the likely publication of data from these clinical trials; The date of authorization or authorization for the use of an emergency physician; The potential for additional supply agreements with other legal systems or the COVAX facility; The potential safety and effectiveness of BNT162; BioNTech and Pfizer`s cooperation in developing a potential COVID-19 vaccine; and BioNTech`s ability to provide quantities of BNT162 to support clinical development and, if approved, market demand, including our production estimates for 2020 and 2021. All forward-looking statements contained in this press release are based on BioNTech`s current expectations and beliefs in future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and negatively from the results presented or implied in such forward-looking statements. These risks and uncertainties include, among other things, competition for the creation of a vaccine against COVID-19; The ability to achieve comparable clinical outcomes in larger and more diverse clinical trials; The ability to effectively develop our production capacity; and other potential difficulties. An explanation of these risks and other uncertainties can be contained in BioNTech`s Management Report on Form 20-F, submitted to the SEC on March 31, 2020 and available on the SEC`s website at www.sec.gov. All information contained in this press release refers to the date of publication and BioNTech undertakes no commitment to update this information, unless required by law. NEW YORK – MAINZ, Germany-(BUSINESS WIRE)– Pfizer Inc.
(NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced an agreement with the U.S. Department of Health and Human Services and the Department of Defense to meet the U.S. administration`s goal of Operation Warp Speed to begin delivering 300 million doses of COVID-19 vaccines in 2021.