Founders of Coronavirus Vaccine Maker BioNTech Launch New Company

The founders of German coronavirus vaccine manufacturer BioNTech are launching a new biotech company and are therefore stepping down from their board positions at the biotech company.

CEO Ugur Sahin and Medical Director Özlem Türeci will leave the company at the end of this year when their contracts expire.

They founded BioNTech in 2008 but now say they are ready to become “pioneers again.” The company developed the coronavirus vaccine in collaboration with the American pharmaceutical company Pfizer. That vaccine was the first to receive approval in Western countries, and BioNTech earned billions from its sales.

Due to the sharp drop in demand for coronavirus vaccines, the biotech company is now developing new cancer drugs. The German couple of Turkish descent will remain shareholders in Mainz-based BioNTech, which says it is seeking successors. The couple has received a high German award for their work.