Tunisia-founded enterprise artificial intelligence (AI) startup InstaDeep has been acquired by Nasdaq-listed German biotech company BioNTech SE in a deal that could eventually be worth $684m to its shareholders. Founded in Tunisia in 2014 but now headquartered in London having gone global, InstaDeep delivers AI products and solutions for the enterprise sector, and also has offices in Paris, Tunis, Lagos, Cape Town and Dubai. Powered by high-performance computing and outstanding research and development breakthroughs, InstaDeep utilises deep reinforcement learning and other advanced machine learning techniques to create AI systems that can optimise decision-making processes in real-life industrial environments. The acquisition supports BioNTech’s strategy to build world-leading capabilities in AI-driven drug discovery and development of next-generation immunotherapies and vaccines to address diseases with high unmet medical need. The transaction will combine two organisations with a common culture and is expected to add approximately 240 highly skilled professionals to BioNTech’s workforce, including teams in AI, ML, bioengineering, data science, and software development.
SOURCE:DISRUPT AFRICA