BioNTech has acquired Chinese cancer drugmaker Biotheus in a near $1bn deal, as the Covid-19 vaccine maker taps into the country’s health sciences expertise to develop promising immunotherapy drugs. The deal gives the German biotech control of a drug class that has shown potential to outperform Merck’s blockbuster cancer treatment Keytruda,

The tie-up will also expand BioNTech's footprint in China, giving it a local research and development hub for clinical trials, as well as a new biologics manufacturing facility and more than 300 Biotheus employees,

As Merck prepares for its blockbuster immunotherapy Keytruda to face generic competition, it’s investing in a new cancer drug from LaNova.