BioNTech SE (NASDAQ: BNTX) announced March 10 that co-founders Ugur Sahin and Özlem Türeci will establish an independent biotechnology company focused on next-generation mRNA innovations. The transition is planned for completion by the end of 2026.

The German biotechnology company stated it will contribute related rights and mRNA technologies to the new venture in exchange for a minority stake. BioNTech expects to sign binding agreements by the end of the first half of 2026.

Sahin and Türeci will transition into management of their new company after their current service agreements with BioNTech end. BioNTech's Supervisory Board has initiated an executive search to identify successors for their positions.

"Over the past 18 years, we have built BioNTech from a start-up into a global biopharmaceutical company with a strong and diversified pipeline," said Sahin, who serves as Chief Executive Officer. "For us, this is the right time to prepare to hand over the baton."

BioNTech stated its current clinical pipeline, including the COVID-19 vaccine franchise, remains unaffected by the plans for the new company. The company expects to have 15 ongoing Phase 3 clinical trials in oncology by year-end and anticipates multiple late-stage data readouts across major cancer types in 2026.

The company is focusing its strategy on development and commercialization of its late-stage pipeline spanning immunomodulator, antibody-drug conjugate and mRNA candidates. BioNTech aims to become a multi-product company by 2030.

Helmut Jeggle, Chairman of BioNTech's Supervisory Board, stated the plan aims to allow each organization to drive impact for patients and create opportunities for collaboration on combination therapy approaches.

This will mark the third biotechnology company established by Sahin and Türeci, following Ganymed Pharmaceuticals in 2001 and BioNTech in 2008.