BioNTech (NASDAQ:BNTX) said on Monday that it will close manufacturing facilities in Germany and Singapore after a sales process for the sites did not result in completed transactions.
The German vaccine maker had announced in May that it would seek buyers for facilities in Idar-Oberstein, Marburg and Tuebingen in Germany, as well as its Singapore site, with closures planned if purchasers could not be found.
The changes come as BioNTech transfers COVID-19 vaccine production to its partner Pfizer.
Sales Process Does Not Result in Transactions
BioNTech said it conducted a sales process for the affected facilities but was unable to complete agreements with potential buyers.
“Despite the best efforts of all those involved and a wide-ranging sales process, it has unfortunately not been possible to finalise a sale,” a company spokesperson said.
The source material did not provide details about the potential buyers involved in the process or a timetable for completing the site closures.
Restructuring Affects Up to 1,860 Positions
The restructuring affects up to 1,860 positions and forms part of BioNTech’s move away from the manufacturing capacity established during the COVID-19 pandemic.
The company is transferring production of its COVID-19 vaccine to Pfizer as part of the changes.
Separately, BioNTech said in March that its two co-founders would leave the company by the end of 2026 to establish a new venture.
The source material did not provide further details about the planned venture.
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