Germany’s BioNTech SE has reached an agreement to place shares with the Singaporean investment group Temasek Holdings Private Ltd and other investors to raise $250 million for the ongoing development of its messenger RNA (mRNA) portfolio which includes an experimental vaccine programme for COVID-19. The transaction is expected to close in early to mid-August. It consists of an investment of $139 million in BioNTech shares and $112 million in four-year mandatory convertible notes.

A Phase 3 US trial of Kevzara (sarilumab) in patients hospitalised with COVID-19 has been stopped, Sanofi SA and Regeneron Pharmaceuticals Inc announced on 2 July. The study did not meet its primary and key secondary endpoints. Furthermore, in the primary analysis group, adverse events were experienced by 80% of Kevzara patients compared with 77% of patients on a placebo.