Once a little-known mRNA pioneer, BioNTech became a household name with its COVID-19 vaccine developed alongside Pfizer. But the German biotech is now pursuing an even bigger transformation — and China is at the heart of its strategy. Using vaccine proceeds to tap China’s booming life sciences ecosystem, BioNTech has quietly built a pipeline of Chinese-derived oncology assets that is now drawing major Big Pharma interest, including a USD 11 billion partnership with BMS.

From COVID Windfall to Chinese Innovation Play

Founded by Turkish-German scientists Uğur Şahin and Özlem Türeci and Viennese researcher Christoph Huber, BioNTech had long pursued mRNA-based immunotherapies. Its breakthrough moment came in 2020, when its mRNA COVID-19 vaccine became the first FDA-approved product of its kind, generating more than USD 80 billion in sales with partner Pfizer.

The vaccine windfall left BioNTech with considerable cash reserves — but instead of resting on its laurels, the company set out to become a force in oncology. Crucially, it saw China as the ideal place to source next-generation innovation.

Tapping China’s Biotech Boom

China’s life sciences sector has surged under government initiatives like the “Healthy China 2030” strategy. Chinese companies are now involved in at least one fifth of global biopharma clinical development, making the country a key hunting ground for novel oncology assets.

In 2023, BioNTech began moving aggressively to secure Chinese innovation. It paid USD 170 million upfront for two topoisomerase-1 inhibitor-based antibody-drug conjugates (ADCs) from Shanghai’s Duality Biotherapeutics. One of these, BNT324/DB-1311, has since received FDA fast track status in prostate cancer.

“We prioritised global partnerships with multinational companies (MNCs), both to validate our science and to secure the financial runway through upfront and milestone payments that could be reinvested into R&D,” Duality’s CEO John Zhu told PharmaBoardroom.

The same year, BioNTech entered a strategic collaboration with Suzhou-based MediLink Therapeutics to develop next-generation ADCs targeting HER3 — a deal worth potentially over USD 1 billion. Despite a trial hold on one MediLink therapy over safety concerns, BioNTech has continued its China-facing push.

Its next move was the full acquisition of novel antibody specialist Biotheus, after an initial collaboration on BNT327 — a bispecific antibody targeting PD-L1 and VEGF-A, now in late-stage lung cancer trials. In total, BioNTech is running more than 20 oncology trials, many driven by Chinese-origin assets.

From Chinese Innovation to Global Validation

BNT327 in particular has emerged as a potential game-changer. The asset could outpace Merck’s Keytruda — 2024’s top-selling drug — by simultaneously activating immune response and blocking tumour growth.

Recognising this opportunity, Bristol Myers Squibb (BMS) signed a deal worth up to USD 11 billion to co-develop and commercialise the therapy — a major validation of BioNTech’s China-sourced pipeline.

“The potential of the opportunity is bigger than we can deliver alone,” said co-founder Uğur Şahin, adding that BMS was chosen as an “established pioneer with vast experience in the field of immunoncology.”

Navigating the New Global Biotech Map

BioNTech’s strategy reflects a broader shift: China is no longer just a market — it is a critical source of innovation for Western biotechs. The German firm’s mRNA COVID vaccine was also the first foreign vaccine approved in China, via its partnership with Fosun Pharma — giving BioNTech deeper ties than many Western peers.

As it turns its COVID-era fortune into a future built on oncology, BioNTech is proving that the new biotech map runs squarely through China.