BioNTech Stock Jumps As It Plans New mRNA Manufacturing Facility In Singapore By 2023

BioNTech SE BNTX will set up its Southeast Asia headquarters in Singapore and build a manufacturing facility to produce its messenger RNA vaccines and other medicines to treat infectious diseases and cancer.
The new site would produce hundreds of million doses of mRNA-based vaccines each year, depending on the specific vaccine.
The site will have automated and end-to-end mRNA production capabilities across drug substance, drug product, and fill-and-finish.
Construction will start this year, and it could be operational as early as 2023, allowing the firm to scale up production for Southeast Asia to address future pandemic threats.
BioNTech’s expansion is supported by the Singapore Economic Development Board, a government agency under the trade ministry. The venture is expected to create up to 80 additional jobs in the country.
“Having multiple nodes in our production network is an important strategic step in building out our global footprint and capabilities,” said Ugur Sahin, CEO, and co-founder of BioNTech.
Price Action: BNTX shares are trading 9.5% higher at $201.1 in the premarket session on the last check Monday