Germany's BioNTech buys British AI startup InstaDeep

Jan 10 (Reuters) - BioNTech SE has agreed to acquire British artificial intelligence (AI) startup InstaDeep for up to 562 million pounds ($682 million) to speed up its biotech research and manufacturing capabilities. Under the German vaccine maker's largest takeover deal to date, BioNTech is to pay 362 million pounds upfront, in a mix of cash and an unspecified number of BioNTech shares, and up to 200 million pounds contingent on InstaDeep's future performance. "Our goal with the acquisition is to integrate AI seamlessly in all aspects of our work - from target discovery, lead discovery to manufacturing and delivery of our products," BioNTech co-founder and Chief Executive Ugur Sahin said at the J.P. Morgan healthcare conference on Tuesday. Sahin also cited BioNTech's partnership last week with the U.K. government for development of personalized cancer therapies and how AI would help in that. The transaction adds to a slew of deals as the industry meets in San Francisco for the conference this week.