Thomas Strüngmann, one of the major shareholders and co-founders of Biontech, anticipates the swift appointment of a new board member at the Mainz-based biotech company. Strüngmann told the “Frankfurter Allgemeine Sonntagszeitung” (FAS) that the appointment of a new medical board member will not take long, as the current head of medicine, Özlem Türeci, along with her husband Ugur Sahin, has announced their departure from the company. The succession for the CEO position was already set weeks ago: Guido Oelkers, from the pharmaceutical company Swedish Orphan Biovitrum, is expected to take over by February at the latest.
The family office belonging to Thomas Strüngmann and his twin brother Andreas holds over 40 percent of Biontech’s shares. The company achieved global recognition through the development of its COVID-19 vaccine, which generated billions of euros in revenue. However, demand has since dropped significantly. Biontech is currently incurring losses as it invests heavily in developing new types of cancer drugs. Shortly after Sahin and Türeci announced their withdrawal, the company implemented a cost-cutting program that involved layoffs and plant closures.
Regarding Biontech’s future, Strüngmann told the FAS that important data from the trials of what is currently their most promising drug candidate will be available “next, or by the year after.” When asked whether and how he might participate in the new company that Sahin and Türeci reportedly plan to found, Strüngmann responded: “That naturally depends primarily on Ugur and Özlem. First, they and Biontech must negotiate the arrangements regarding patents and licenses between the two companies. Only when that is legally fully resolved can we talk.”
