BIOTECH FLU VACCINE

PFIZER bets on biotech flu vaccine in $425 million BioNTech alliance to develop more effective influenza  jabs -

The latest among several major pharma companies to bank on a promising new genetic approach.

Privately-held  BioNTech will receive $120 million upfront plus up to $305 million depending on certain development achievements as well as tiered royalties on future sales in the  double-digit percentage range, the two companies said in a statement on Thursday.

Mainz-based BioNTech, valued at  $2.3 billion in a January financing round, is specialising in so-called messenger RNA [mRNA]  molecules that instruct human cells to produce therapeutic proteins or to launch an immune response.

The emergent field has seen drugmakers such as AstraZeneca, Elli Lily and Sanofi partner up with biotech firms.

''mRNA vaccines offer a  novel approach  to code for any protein or multiple proteins, and the potential to manufacture higher potency flu vaccines more rapidly and at a lower cost than contemporary flu vaccines,'' said Kathrin jansen, the head of  Pfizer's vaccine research and development unit.

Flu jabs are currently produced from chicken eggs based on the previous flu season's viral stains.

''The alliance partners hope to offer a vaccine that can be quickly adjusted to the latest  viral mutations, which can also be a major advantage in case of a  pandemic threat from avian flu. [Agencies]