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Singapore Temasek invests in COVID vaccine testing company

German BioNTech raises $250m from the sovereign wealth fund and others

Singapore state-owned investment company Temasek has targeted multiple biotechnology companies for investments.   © Reuters

SINGAPORE -- Nasdaq-listed BioNTech, which is testing a COVID-19 vaccine candidate, said Monday it has raised $250 million from Singapore state-owned investment company Temasek and other accredited investors in a private placement.

"We are pleased to welcome Temasek on board as a new shareholder. We believe their long-term investment approach, global presence, and deep experience in the biotechnology field are a good fit," Ugur Sahin, the German-based BioNTech's CEO and co-founder, said in a statement.

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