Mirae Asset Earns $22 Million Profit from Investment in BioNTech

Investment in BioNTech with Mirae Asset-Naver Asia Growth Fund and others
Expected approximately 150% profit in 10 months... Full-scale investment performance creation and investment recovery begin

[Asia Economy Reporter Song Hwajeong] Mirae Asset announced on the 16th that it earned approximately 22 million dollars in profit through the sale of BioNTech.

In July of last year, Mirae Asset invested a total of 15 million dollars in BioNTech, which holds mRNA-based therapeutic candidate substances. BioNTech was listed on the U.S. Nasdaq market in the form of American Depositary Receipts (ADR) just three months after Mirae Asset's investment, and Mirae Asset realized a profit of about 2.5 times this month when the mandatory lock-up period expired.

BioNTech, founded in 2008 in Mainz, Germany, has continuously conducted research on mRNA-based platforms and is currently developing therapeutics through technology partnerships with global companies such as Roche, Lilly, Sanofi, Genmab, and Pfizer in various disease groups including cancer, infectious diseases, and rare diseases.

Since its Nasdaq listing in October 2019, BioNTech strengthened its cell therapy development field by acquiring Neon Therapeutics for 67 million dollars, and in March of this year, it agreed to jointly research an mRNA vaccine to respond to the coronavirus with China's Fuxing Pharmaceutical and Pfizer, planning the first patient dosing at the end of April. Additionally, with major clinical data related to anticancer drug development expected to be announced this year, it is anticipated to establish itself as a global leader in the mRNA therapeutic field.

This investment was conducted in the form of a joint investment by the Mirae Asset-Naver Asia Growth Fund managed by Mirae Asset Capital and Mirae Asset’s overseas affiliates, sourcing deals through Mirae Asset’s global network. This profit realization is the first investment recovery case of the Mirae Asset-Naver Asia Growth Fund, which was established in June 2018.

Assets that Mirae Asset has invested in overseas have begun to generate investment results. In fact, the German T8 building, acquired for about 360 billion won in 2017, realized a profit of approximately 170 billion won in two and a half years, and the Cologne government complex and Chicago building are also realizing profits through sales.

A Mirae Asset official said, "Mirae Asset is investing in core high-quality assets worldwide and plans to complete a virtuous cycle structure through the recovery of various income assets."

This content was produced with the assistance of AI translation services.