The co-founders and primary executives of BioNTech SE are scheduled to depart the COVID-19 vaccine manufacturer by the end of the year to launch a new research venture. The announcement on Tuesday triggered a sharp decline in the company's stock, with shares falling more than 20% to their lowest level since August 2024. CEO Ugur Sahin and Chief Medical Officer Oezlem Tuereci, the couple who pioneered the mRNA technology used in the pandemic's most widely distributed immunization, stated they are ready to return to early-stage scientific discovery.
BioNTech Founders to Exit for New Venture as Shares Drop
CEO Ugur Sahin and Oezlem Tuereci will leave BioNTech by year-end to focus on early-stage research. Shares fell 20 percent following the announcement today.
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BioNTech, based in Germany, has initiated a search for successors to ensure a smooth transition. Sahin indicated that the company may provide funding for the new venture in exchange for a significant minority stake.
