European innovation reaches EU population: MIG Fonds` portfolio company BioNTech achieves positive CHMP opinion for the first COVID-19 and mRNA vaccine
- European community to benefit from European innovation and long-term VC investment strategies. This vaccine would not have been possible without risk capital from European private investors
- Approval confirms MIG’s tech focused investment strategy – MIG is a founding investor and long-term active shareholder of BioNTech
Munich, Germany, 21 December 2020 – MIG AG, the manager of MIG Fonds, a founding investor of the German-based BioNTech SE, announces today its portfolio company and U.S. partner Pfizer Inc. have received positive CHMP opinion of the European Medicines Agency (EMA)of COVID-19 vaccine BNT162b2. The positive recommendation represents the first for both a COVID-19 and mRNA vaccine in the European Union.
Michael Motschmann, General Partner and Board Member of MIG AG, said: „We are very glad that vaccination can now start all over Europe and also in Germany where this vaccine has its very origins. This positive recommendation is confirmation of the value in European science, technology and outstanding management teams, all backed by long-term European private risk-capital investors. At MIG, we are very proud to have played a part in delivering this crucial vaccine and to know that European populations are benefiting from European innovation and our dedication to science and technology. From the center of Europe, it is wonderful to know our portfolio company is supporting global public health systems and billions of individuals and families. We remain committed to investing in young life sciences and deep tech companies to advance innovation that moves the world forward.”
MIG Fonds with its German and Austrian private investors, together with the strong commitment of the Strüngmann family office and other contributors, substantially supported the founding of BioNTech in 2008 and its growth strategy over the years including the recent Nasdaq IPO. As private investors and venture capitalists they took the risk of investing in innovation at the very early stages of development over many years, while pharma and public funding stepped in later on.
The COVID-19 vaccine of BioNTech and Pfizer has been approved in the UK, USA, Canada, Israel, Bahrein, Saudi Arabia, Mexico, Chile, Ecuador, and Switzerland so far.
About MIG AG
MIG Verwaltungs AG (MIG AG) is one of the leading German VC investors. MIG AG, through its MIG Fonds, invests in early-stage deep tech and life science technologies in German-speaking Europe and beyond. The company has so far invested over € 580 m in more than 40 companies. Its portfolio companies are developing innovations in the fields of biopharmaceuticals, artificial intelligence/machine learning, quantum tech, Digitization/IOT, precision medicine and digital health. Currently, the MIG investment portfolio includes 28 companies.
The MIG investment team is a committed group of engineers, biologists, scientists and investors who understand the importance of an analytical and creative approach to the opportunities
and challenges faced when trying to build a successful business. Their reputation and track record provides an excellent access to the people, firms and institutions that matter for its portfolio companies’ growth.