BioNTech Founders Uğur Şahin and Özlem Türeci to Step Down

The founders of BioNTech, Uğur Şahin and Özlem Türeci, have decided to leave the pharmaceutical company they established and in which they hold a 15% stake. The pair gained worldwide recognition after developing a coronavirus vaccine using mRNA technology.

BioNTech’s CEO and Co-Founder Uğur Şahin, whose company achieved major financial success during the COVID-19 pandemic, said the decision marks a new phase for the company.

“Within 18 years, we transformed BioNTech from a start-up into a global pharmaceutical company. During the COVID-19 pandemic, we expanded our commitment beyond oncology and developed the first mRNA vaccine to help protect people worldwide. The company is now in a very strong position. For us, the time has come to hand over the management,” Şahin stated.

Following the announcement, BioNTech shares fell by around 18% on the Frankfurt Stock Exchange.

The couple is now preparing to launch a new biotechnology company. The name, location, and partnership structure of the new venture have not yet been disclosed.

Source: Deutsche Welle