BioNTech will cut more than a fifth of its workforce and shut down much of its COVID-19 vaccine manufacturing network as the German biotech shifts focus toward cancer treatments. The company plans to end production at several sites in Germany and Singapore, including facilities acquired through its takeover of German rival CureVac, affecting up to 1,860 jobs by the end of 2027.

The restructuring follows the announcement that BioNTech's co-founders Uğur Şahin and Özlem Türeci will step down by the end of 2026 to launch a separate venture focused on next-generation mRNA technologies. The company expects the restructuring to deliver up to €500 million in annual cost savings by 2029, which it plans to redirect into late-stage cancer drug development and commercialization.

BioNTech, which rose to prominence during the pandemic through its COVID vaccine developed with Pfizer, has seen sales fall sharply as vaccination campaigns have slowed. First-quarter revenues fell to €118.1 million from €182.8 million a year earlier. The company retains manufacturing capacity in Mainz while investing in new sites in Rwanda and Australia ahead of a planned regulatory submission for its first oncology product in 2026.