UK-based CAR-T therapy company Autolus Therapeutics has raised an aggregate of USD 600 million via a collaboration agreement with German biotech company BioNTech and an underwritten share offering.

As part of the BioNTech-Autolus partnership deal, Autolus received USD 250 million upfront—USD 200 million via the purchase of American depositary shares (ADSs) in a private placement and USD 50 million in cash. The collaboration will aid in the efficient development of BioNTech's CAR-T BNT211 for pivotal trials in CLDN6+ tumors.

Simultaneously, Autolus raised USD 350 million in an underwritten offering of 58 million ADSs (each ADS is equivalent to a common share) for USD 6.00 per ADS. The offering is expected to close on February 12, 2024.

The USD 600 million proceeds will predominantly be used to back the expansion, manufacturing, and launch of Autolus’ key autologous CD19 CAR-T, obe-cel, awaiting FDA approval . The funds will also be used to support general administrative expenses and maintain working capital.