© Reuters. Coronavirus illness (COVID-19) vaccination in Paris

FRANKFURT (Reuters) – German challenge capital company MIG AG, which was once a number of the first backers of COVID-19 vaccine developer BioNTech, has paid 600 million euros ($719 million) to its traders, cashing out portions of an preliminary funding of 13.5 million euros.

MIG stated on Thursday that traders in its price range would now obtain 340 million euros from the sale of an unspecified stake in BioNTech, following a payout of 260 million euros closing yr.

MIG’s price range have supplied investment to BioNTech, which evolved the vaccine with U.S. drugmaker Pfizer (NYSE:), because the German biotech corporate’s inception in 2008.

BioNTech now has a marketplace capitalisation of round $28.4 billion, greater than 8 occasions its valuation of $3.4 billion when it made its inventory marketplace debut at the Nasdaq trade in October 2019.

MIG AG basic spouse Kristian Schmidt-Garve stated the funding company was once happy with BioNTech’s position in combating the pandemic.

“We also are very happy that lets realise really extensive returns for the shareholders within the concerned price range, which quantity to a a couple of of the preliminary deposits,” he added.

MIG didn’t say what number of BioNTech stocks had been bought and what number of it nonetheless holds within the corporate

In line with the prospectus of a $512 million BioNTech capital build up in July 2020, 3 MIG price range held a blended 3.9% in BioNTech after the capital carry, down from 4.4% ahead of as a result of they bought some stocks.

BioNTech’s biggest shareholders are biotech traders Thomas and Andreas Struengmann, who grasp about part of the corporate’s stocks between them.

($1 = 0.8341 euros)

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