View Filing Data

^[1]

163,494

(163,494)

Ending balance at Dec. 31, 2017

5,909

(48,206)

166,764

^[1]

8,922

^[1]

(197,753)

(27,206)

(23)

(49,296)

1,090

Loss for the period

(48,262)

(48,019)

(243)

Other comprehensive income

Total comprehensive income

(48,252)

(48,019)

(48,009)

(243)

355,816

25,949

^[1]

329,867

^[1]

355,816

Settlement of share-based payment plan

7,641

583

^[1]

5,326

^[1]

(5,909)

Ending balance at Dec. 31, 2018

267,000

193,296

^[1]

344,115

^[1]

(245,771)

(25,474)

(13)

266,153

847

Loss for the period

(179,172)

(179,056)

(116)

Other comprehensive income

Total comprehensive income

(179,095)

(179,056)

(178,979)

(116)

Capital increase initial public offering (referred to as IPO)

49,874

€ 198,855

8,126

^[1]

€ 17,990

41,748

^[1]

€ 186,390

€ (5,525)

49,874

€ 198,855

143,260

10,517

^[1]

132,743

^[1]

143,260

Acquisition of non-controlling interest

2,375

^[1]

(1,644)

^[1]

731

€ (731)

Transaction costs

(16,638)

^[1]

(16,638)

Ending balance at Dec. 31, 2019

30,236

€ 493,492

€ 232,304

^[1]

€ 686,714

^[1]

€ (5,525)

€ (424,827)

€ 4,762

€ 64

€ 493,492

[1]	Numbers have been adjusted to reflect capital increase due to 1:18 share split which occurred on September 18, 2019.

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	Sep. 18, 2019
Statement Of Changes In Equity [Abstract]
Stock split ratio	0.05556

Consolidated Statements of Cash Flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Loss for the period	€ (179,172)	€ (48,262)	€ (85,950)
Income taxes	(268)	600	45
Loss before tax	(179,440)	(47,662)	(85,905)
Adjustments to reconcile loss before tax to net cash flows:
Depreciation and amortization of property, plant, equipment and intangible assets	33,896	21,984	10,529
Share-based payment expense	30,235	7,641	5,909
Net foreign exchange differences	70	459	24,820
(Gain)/Loss on disposal of property, plant and equipment	542	(14)	15
Finance income	(1,782)	(1,996)	(2,133)
Interest on lease liability	1,718	1,721	676
Finance expense	326	48	53
Share of loss of an associate and a joint venture		84	78
Working capital adjustments:
Decrease/(Increase) in trade receivable and contract assets	2,939	(18,732)	(2,816)
Decrease/(Increase) in inventories	(5,798)	(1,253)	(574)
(Decrease)/Increase in trade and other payables, contract liabilities and provisions	(80,577)	(21,080)	(4,574)
Interest received	1,256	1,996	2,133
Interest paid	(2,044)	(1,769)	(729)
Income tax received (paid), net	122	(304)	(45)
Net cash flows used in operating activities	(198,537)	(58,877)	(52,562)
Investing activities
Purchase of property, plant and equipment	(38,592)	(29,901)	(24,320)
Proceeds from sale of property, plant and equipment	21	705	5,193
Purchase of intangibles assets	(32,488)	(37,256)	(33,422)
Acquisition of subsidiaries and businesses, net of cash acquired	(6,056)
Net cash flows used in investing activities	(77,115)	(66,452)	(52,549)
Financing activities
Proceeds from issuance of share capital, net of costs	375,351	361,725
Proceeds from loans and borrowings	11,000	5,600
Payment of finance lease liabilities	(3,061)	(2,148)	(1,643)
Net cash flows from/(used in) financing activities	383,290	365,177	(1,643)
Net increase/(decrease) in cash and cash equivalents	107,638	239,848	(106,753)
Change in cash resulting from exchange rate differences	16	(459)	(24,820)
Cash and cash equivalents at January 1	411,495	172,106	303,680
Cash and cash equivalents at December 31	€ 519,149	€ 411,495	€ 172,106

Corporate information

12 Months Ended

Dec. 31, 2019

Disclosure Of Corporate Information Explanatory [Abstract]

Corporate information

1	Corporate Information

BioNTech SE is a limited company incorporated and domiciled in Germany. American Depository Shares (ADS) representing BioNTech’s shares are publicly traded on Nasdaq Global Select Market since October 10, 2019. The registered office is located in Mainz, An der Goldgrube 12, 55131 Germany. The accompanying International Financial Reporting Standards (IFRS) consolidated financial statements present the financial position and the results of operation of BioNTech SE and its subsidiaries, hereinafter also referred to as “BioNTech” or the “Group”.

Effective March 8, 2019, BioNTech AG changed its name and legal form to BioNTech SE. The Group is principally engaged in developing innovative immunotherapies for the individualized treatment of cancer and other infectious diseases.

During the year ended December 31, 2019 the following changes to the Group structure occurred:

•

Two entities were founded in the United States: BioNTech USA Holding, LLC and BioNTech Research & Development, Inc. Both are wholly-owned subsidiaries of BioNTech SE.

•

reBOOST Management GmbH, was acquired through a share purchase which represents a related party transaction.

All entities listed above are included in the Group’s consolidated financial statements.

Information on the Group’s structure is provided in Note 5.

The consolidated financial statements of the Group for the year ended year ended December 31, 2019 were authorized for issue in accordance with a resolution of the directors on March 31, 2020.

Significant accounting policies

12 Months Ended

Dec. 31, 2019

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Significant Accounting Policies

2	Significant Accounting Policies

2.1	Basis of Preparation

The consolidated financial statements have been prepared on a going concern basis in accordance with the IFRS as issued by the International Accounting Standards Board (IASB).

BioNTech prepares and publishes its consolidated financial statements in Euros. Unless otherwise stated, the numbers are rounded to thousands of Euros. Accordingly, numerical figures shown as totals in some tables may not be exact arithmetic aggregations of the figures that preceded them.

2.2	Basis of Consolidation

The consolidated financial statements comprise the financial statements of the Company and its controlled investees (subsidiaries).

The Group controls an investee if, and only if, the Group has

•

power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee);

•

exposure, or rights, to variable returns from its involvement with the investee; and

•

the ability to use its power over the investee to affect its returns.

Generally, there is a presumption that a majority of voting rights results in control.

The Group re-assesses whether it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary.

The statement of operations and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated on consolidation.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interests and other components of equity, while any resultant gain or loss is recognized in the statement of operations. Any investment retained is recognized at fair value.

2.3	Summary of Significant Accounting Policies

2.3.1

Business combinations and Goodwill

Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree.

Goodwill is initially measured at cost as the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed.

After initial recognition, goodwill is tested at least annually or when there is an indication for impairment. See Note 2.3.13.

2.3.2

Current versus Non-Current Classifications

The Group presents assets and liabilities in the consolidated statements of financial position based on current or non-current classification. An asset is current when it is either: (i) expected to be realized within 12 months after the reporting period or (ii) cash or cash equivalents, unless it is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is current when it is due to be settled within 12 months after the reporting period. The Group classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities, respectively.

2.3.3

Fair Value Measurement

Fair value is a market-based measurement. For some assets and liabilities, observable market transactions or market information is available. For other assets and liabilities, observable market transactions or market information might not be available. When a price for an identical asset or liability is not observable, another valuation technique is used. To increase consistency and comparability in fair value measurements, there are three levels of the fair value hierarchy:

•

Level 1 contains the use of quoted prices in active markets for identical assets or liabilities.

•

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly.

•

Level 3 inputs are unobservable.

Within this hierarchy, estimated values are made by management based on reasonable assumptions, including other fair value methods.

For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the fair value hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above.

2.3.4Revenue from Contracts with Customers

Revenue Recognition

Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which BioNTech expects to be entitled in exchange for those goods or services. If a contract with a customer contains more than one performance obligation, the transaction price is allocated to each performance obligation on a relative-stand-alone selling price basis. BioNTech has generally concluded that it acts as the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer. The following is a description of these activities.

Revenue from Collaboration and License Agreements

BioNTech generates revenues from collaboration and license agreements under which BioNTech grants licenses to use, research, develop, manufacture and commercialize product candidates and products. If the grant of a license is bundled together with the rendering of services, it is assessed whether these agreements are comprised of more than one performance obligation. A performance obligation is only accounted for as the grant of a license if the grant of a license is the sole or the predominant promise of the performance obligation. For each promise to grant a license that is a separate performance obligation, it is considered whether control is transferred to a licensee either at a point in time or over time. Under the terms of its licensing arrangements, BioNTech provides the licensee with a right to access BioNTech’s intellectual property as it exists throughout the license period (as BioNTech’s intellectual property is still subject to further research). Therefore, the promise to grant a license is accounted for as a performance obligation satisfied over time, as the licensee simultaneously receives and consumes the benefits of BioNTech’s performance.

If the consideration in an agreement includes a variable amount, BioNTech estimates the amount of consideration to which BioNTech will be entitled in exchange for transferring the goods to the customer. At contract inception, the variable consideration is estimated based on the most likely amount of consideration expected from the transaction and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with respect the variable consideration is subsequently resolved. The estimated deferred revenue is updated at each reporting date to reflect the current facts and circumstances.

Rendering of Services

BioNTech provides development and manufacturing services to customers and recognizes revenue over time using an input-based method to measure progress toward complete satisfaction of the services because the customer simultaneously receives and consumes the benefits provided by BioNTech. If BioNTech has a right to consideration from a customer in the amount that corresponds directly with the value to the customer of BioNTech’s performance completed to date (for example, service contracts in which BioNTech bills a fixed amount for each hour or day of service provided), BioNTech recognizes revenue in the amount for which BioNTech has a right to invoice the customer.

Sale of Products

Revenue from the sale of medical products (e.g., peptides and retroviral vectors for clinical supply) is recognized when BioNTech transfers control of the product to the customer. Control of the product normally transfers when the customer gains physical possession and BioNTech has not retained any significant risks of ownership or future obligations with respect to the product. A receivable is recognized, as the consideration is unconditional and only the passage of time is required before payment is due. The transaction price is quoted in the relevant price lists in force at the date of customer placing the respective order for such products. Payments from customers are due within 20 days (Europe) or 30 days (non-Europe) after invoice.

Contract Balances

Contract Assets

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If BioNTech performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional.

Trade Receivables

A receivable represents BioNTech’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due).

Contract Liabilities

A contract liability is the obligation to transfer goods or services to a customer for which BioNTech has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before BioNTech transfers goods or services to the customer, a contract liability is recognized when the payment is made or when the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when BioNTech performs under the contract.

2.3.5

Government Grants

Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which the grant is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as deduction in calculating the carrying amount of the asset and thus in the statement of operations over the life of the depreciable asset as a reduced depreciation expense.

2.3.6

Taxes

Current Income Tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income.

Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred Tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognized for all taxable temporary differences, except:

•

when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or

•

in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, the carry forward of unused tax credits and unused tax losses can be utilized, except:

•

when the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; or

•

in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year in which the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Recognition of Taxes

Current and deferred tax items are recognized similar to the underlying transaction either in profit or loss, other comprehensive income or directly in equity.

The Group offsets current tax assets and current tax liabilities if, and only if, it has a legally enforceable right to set off the recognized amounts and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Deferred tax assets and deferred tax liabilities are only offset when the Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either (i) the same taxable entity or (ii) different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.

Sales Tax

Expenses and assets are recognized net of sales tax, except when the sales tax incurred on a purchase of assets or services is not recoverable from the taxation authority.

The net amount of sales tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position.

2.3.7

Foreign Currencies

The Group’s consolidated financial statements are presented in Euros, which is also the parent company’s functional currency. For each entity, the Group determines the functional currency, and items included in the financial statements of such entity are measured using that functional currency. The Group uses the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is reclassified to the statement of operations reflects the amount that arises from using this method.

Transactions and Balances

Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.

In determining the spot exchange rate to use on initial recognition of the related asset, expense or income (or part of it) on the derecognition of a non-monetary asset or non-monetary liability relating to advance consideration, the date of the transaction is the date on which the Group initially recognizes the non-monetary asset or non-monetary liability arising from the advance consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date for each payment or receipt of advance consideration.

Foreign Currency Translation

On consolidation, the assets and liabilities of foreign operations are translated into Euros at the rate of exchange prevailing at the reporting date and their statements of operations are translated at exchange rates prevailing at the dates of the transactions.

The exchange differences arising on translation for consolidation are recognized in other comprehensive income. On disposal of a foreign operation, the component of other comprehensive income relating to that particular foreign operation is reclassified to profit or loss.

Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising upon the acquisition are treated as assets and liabilities of the foreign operation and translated at the spot rate of exchange at the reporting date.

2.3.8

Property, Plant and Equipment

Construction in progress is stated at cost, net of accumulated impairment losses, if any. Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment if the recognition criteria are met. All other repair and maintenance costs are expensed as incurred.

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:

Property, plant and equipment

Useful life

(Years)

Buildings

7-33

Equipment, tools and installations

3-15

An item of property, plant and equipment initially recognized is derecognized upon disposal (i.e., at the date the recipient obtains control) or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of operations when the asset is derecognized.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

2.3.9

Leases

The Group early adopted IFRS 16 Leases for annual periods beginning on January 1, 2017.

At the inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group assesses whether:

•

the contract involves the use of an identified asset—this may be specified explicitly or implicitly and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substitution right, then the asset is not identified;

•

the Group has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and

•

the Group has the right to direct the use of the asset. The Group has this right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used. In rare cases where the decision about how and for what purpose the asset is used is predetermined, the Group has the right to direct the use of the asset if either:

•

the Group has the right to operate the asset; or

•

the Group designed the asset in a way that predetermines how and for what purpose it will be used.

At inception or on reassessment of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. However, for the leases of land and buildings in which it is a lessee, the Group has elected not to separate non-lease components, and instead accounts for the lease and non-lease components as a single lease component.

The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of the costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received by the Group.

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset and the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the incremental borrowing interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate.

Lease payments included in the measurement of the lease liability comprise the following:

•

fixed payments, including in-substance fixed payments;

•

variable lease payments that depend on an index or a rate, initially measured using the index or rate as of the commencement date;

•

amounts expected to be payable under a residual value guarantee; and

•

the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early.

The lease liability is subsequently measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, or if the Group changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in the statement of operations if the carrying amount of the right-of-use asset has been reduced to zero.

The Group presents right-of-use assets separately and lease liabilities in ‘financial liabilities’ in the statement of financial position.

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets or shorter lease term, as follows:

Right-of-use assets		Useful life (Years)
Buildings		2-25
Equipment, tools and installations		2-5
Automobiles		3-4

Short-Term Leases and Leases of Low-Value Assets

The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less or leases of low-value assets. The Group recognizes the lease payments associated with these leases as an expense in the statement of operations on a straight-line basis over the lease term.

2.3.10

Intangible Assets

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses.

The useful lives of intangible assets are assessed as either finite or indefinite.

Intangible assets with finite lives are amortized generally on a straight-line basis over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are at least reviewed at the end of each reporting period. The amortization expense on intangible assets with finite lives is recognized in the statement of operations in the expense category that is consistent with the function of the intangible assets.

A summary of the useful lives applied to the Group’s intangible assets is as follows:

Intangible assets

Useful life

(Years)

Intellectual property rights

10-20

Licenses

3-20

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually, or when there is an indication for impairment, either individually or at the level of a cash-generating unit (see Note 2.3.13 for further details). The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis.

The group has classified advanced payments on intangible assets as intangible assets which are not yet ready for use. Advanced payments on intangible assets are tested for impairment on an annual basis.

An intangible asset is derecognized upon disposal (i.e., at the date the recipient obtains control) or when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of operations.

Research and Development Costs

Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset if, and only if, all of the following six criteria can be demonstrated by the Group:

•

the technical feasibility of completing the intangible asset so that the asset will be available for use or sale;

•

its intention to complete the project;

•

the ability and intention to use or sell the asset;

•

how the asset will generate future economic benefits;

•

the availability of resources to complete the asset; and

•

the ability to reliably measure the expenditure during development.

Owing to the high risks up to the time that pharmaceutical products are approved, these criteria are not met in the Biotech business sector until regulatory approval has been provided. Therefore, the Group has not yet capitalized any development expenditures. The related expenditure is reflected in the statement of operations in the period in which the expenditure is incurred.

2.3.11

Financial Instruments – Initial Recognition and Subsequent Measurement

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

i) Financial Assets

Initial recognition and Measurement

Financial assets are initially measured at fair value, after the initial measurement the financial assets are subsequently classified as either measured at amortized cost, fair value through other comprehensive income, or fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15. Refer to the accounting policies in Note 2.3.4.

In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level.

Financial Assets at Amortized Cost (Debt Instruments)

The Group measures financial assets at amortized cost if both of the following conditions are met:

•

the financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows; and

•

the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at amortized cost are subsequently measured using the effective interest rate (EIR) method, and are subject to impairment. Gains and losses are recognized in the statement of operations when the asset is derecognized, modified or impaired.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when the rights to receive cash flows from the asset have expired or have been transferred in terms of fulfilling the derecognition criteria.

Impairment of Financial Assets

An allowance for expected credit losses (ECLs) is recognized for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all of the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

ii) Financial Liabilities

Initial Recognition and Measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings or as payables.

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Group’s financial liabilities include trade payables and other financial liabilities.

Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below.

Financial Liabilities at Fair Value through Profit or Loss

The Group has no financial liabilities measured at fair value through profit or loss.

Loans, Borrowings, Trade Payables and Other Financial Liabilities

After initial recognition, interest-bearing loans and borrowings, trade payables and other financial liabilities are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in the statement of operations when the liabilities are derecognized as well as through the EIR amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of operations.

This category generally applies to interest-bearing loans and borrowings.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of operations.

2.3.12

Inventories

Inventories are valued at the lower of cost and net realizable value.

Costs incurred in bringing each product to its present location and condition are accounted for as follows:

•

raw materials and supplies: purchase cost on a first-in/first-out basis; or

•

unfinished goods and finished goods: cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacity, but excluding borrowing costs.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

2.3.13

Impairment of Non-Financial Assets

The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash generating unit’s (CGU) fair value less costs of disposal and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or cash generating unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.

The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Group’s cash generating units to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of five years. A long-term growth rate is calculated and applied to project future cash flows after the fifth year.

Impairment losses of continuing operations are recognized in the statement of operations in expense categories consistent with the function of the impaired asset.

For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or have decreased. If such indication exists, the Group estimates the asset’s or cash generating unit’s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of operations unless the asset is carried at a revalued amount, in which case, the reversal is treated as a revaluation increase.

2.3.14

Cash and Cash Equivalents

Cash and cash equivalents comprise cash in banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

2.3.15

Provisions

Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Group expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of operations net of any reimbursement.

2.3.16

Share-Based Payments

Employees (and others providing similar services) receive remuneration in the form of share-based payments, which are settled in equity instruments (equity-settled transactions).

Equity-Settled Transactions

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model, further details of which are given in Note 17.

These costs are recognized in cost of sales, research and development expenses, sales and marketing expenses or general and administrative expenses, together with a corresponding increase in equity (other reserves), over the period in which the service is provided (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest.

2.4	Standards applied for the First Time

In 2019 several new and amended standards and interpretations became effective. These were applied for the first time, but did not have an impact on the consolidated financial statements of the Group.

Standards/Interpretations		Date of application
IFRIC 23 Uncertainty over income tax treatment		January 1, 2019
Amendments to IFRS 9 Prepayment Features with Negative Compensation		January 1, 2019
Amendments to IAS 19 Plan Amendment, Curtailment or Settlement		January 1, 2019
Amendments to IAS 28 Long-term interests in associates and joint ventures		January 1, 2019
Annual improvement cycle to IFRS 2015-2017		January 1, 2019

2.5	Standard issued but not yet effective

The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements and that might have an impact on the Group’s financial statements are disclosed below. The Group has not early adopted any standards and intends to adopt these new and amended standards and interpretations, if applicable, when they become effective.

Standards/Interpretations		Date of application
Amendments to IFRS 3 Business Combinations		January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform		January 1, 2020
Amendments to IAS 1 and IAS 8 Definition of Material		January 1, 2020
Amendments to References to the Conceptual Framework in IFRS Standards		January 1, 2020
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current		January 1, 2022

The Group does not expect a significant impact of the application of any of these amendments.

Significant Accounting Judgments, Estimates and Assumptions Continued

12 Months Ended

Dec. 31, 2019

Disclosure Of Accounting Judgements And Estimates [Abstract]

Significant Accounting Judgments, Estimates and Assumptions Continued

3	Significant Accounting Judgments, Estimates and Assumptions Continued

The preparation of the Group’s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Judgments

In the process of applying the Group’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements:

Revenue from Contracts with Customers

BioNTech applied the following judgements that significantly affect the determination of the amount and timing of revenue from contracts with customers:

Identification and Determination of the Nature of Performance Obligations in Collaboration and License Agreements

BioNTech generates revenues from collaboration and license agreements under which BioNTech grants licenses to use, research, develop, manufacture and commercialize candidates and products. As these agreements comprise several promises, it must be assessed whether these promises are capable of being distinct within the context of the contract. If these promises are not distinct, they have to be combined until the bundle of promised goods and services is distinct. For some agreements, this results in BioNTech accounting for all goods and services promised in a collaboration and license agreement as a single performance obligation with a single measure of progress.

For these combined performance obligations, it must be assessed which of these promises is the predominant promise to determine the nature of the performance obligation. BioNTech determined that the grant of the license is the predominant promise within the (combined) performance obligation to grant a license to the customers. It was assessed that BioNTech grants their customers a right to access or a right to use BioNTech’s intellectual property due to the collaboration and license agreements.

Consequently, the promise to grant a license is accounted for as a performance obligation satisfied over time as BioNTech’s customer simultaneously receive and consumes the benefits from BioNTech’s performance.

Estimation of Variable Consideration and Assessment of the Constraint when Determining the Deferred Revenue

BioNTech’s collaboration and license agreements comprise variable considerations which are contingent on the occurrence or non-occurrence of a future event (i.e., reaching a certain milestone). When determining the deferred revenue of a collaboration and license agreement, BioNTech is required to estimate the amount of consideration to which it will be entitled in exchange for transferring the promised goods or services to the customer.

As there are usually only two possible outcomes (i.e., milestone is reached or not), BioNTech has assessed that the method of the most likely amount is the best method to predict the amount of consideration to which BioNTech will be entitled.

The most likely amount of these milestone payments (i.e., the full milestone payment) is only included in the transaction price if the occurrence of reaching future milestone is highly probable. BioNTech has assessed that the likelihood of achieving the respective milestone decreases depending on how far the expected date of achieving the milestone lies in the future.

BioNTech has concluded that future milestone payments are fully constrained at the end of the current fiscal year.

Future milestone payments would become unconstrained at the satisfaction of the milestone event, specifically a development event, a regulatory approval or achievement of a sales milestone.

For the carrying amounts of the revenue recognition-related contract balances, see Note 4.

Estimates and Assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.

Share-Based Payments

Determining the fair value of share-based payment transactions requires the most appropriate valuation for the specific program, which depends on the underlying terms and conditions.

This estimate also requires the determination of the most appropriate inputs to the valuation model when calculating the fair value of the share option.

The Group has used an external appraisal for the measurement of the cash- and equity-settled transactions’ fair value at the grant date considering certain assumption relating to, e.g., the volatility of stock price, the determination of an appropriate risk-free interest rate, expected dividends and the probability of reaching a minimum hurdle to exercise the relevant options. For awards which were granted prior to the initial public offering, at a time where no quoted market prices existed, the valuation model assumptions included the option’s underlying share price. For awards which were granted post the initial public offering, the grant date’s share prices on the Nasdaq Global Select Market were included in the valuation.

For further disclosures relating to share-based payments, see Note 17.

Leases

Right-of-use assets are measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease.

Significant accounting judgments are required for the determination of the appropriate incremental borrowing rate, which is to be used in the calculation of the asset and liability that are recognized in the financial statements regarding the lease contracts.

For the carrying amounts of right-of-use assets and the related lease liability, see Note 19.

Taxes

Deferred tax assets are recognized for unused tax losses only to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits, together with future tax planning strategies.

The Group has tax losses carried forward and these losses relate to subsidiaries that have a history of losses. The subsidiaries neither have any taxable temporary difference nor any tax planning opportunities available that could partly support the recognition of these losses as deferred tax assets.

On this basis, the Group has determined that it cannot recognize deferred tax assets on the tax losses carried forward.

For further disclosures relating to deferred taxes, see Note 8.

Revenue from contracts with customers

12 Months Ended

Dec. 31, 2019

Disclosure Of Revenue From Contracts With Customers [Abstract]

Revenue from contracts with customers

4Revenue from contracts with customers

4.1	Disaggregated revenue information

Set out below is the disaggregation of the Group’s revenue from contracts with customers:

	Years ended December 31,
(in thousands)	2019	2018	2017
Revenues resulting from collaboration and license agreements	€84,428	€101,837	€42,333
Genentech Inc.	64,026	49,536	27,829
Pfizer Inc.	14,348	7,174	-
Sanofi S.A.	4,233	41,712	5,665
Genmab A/S	-	2,740	6,765
Eli Lilly and Company	1,821	676	2,074
Revenues from other sales transactions	24,161	25,738	19,265
Total	€108,589	€127,575	€61,598

Through December 31, 2019, BioNTech received k€279,542 in upfront fees from Genentech under the Genentech Collaboration Agreement. Such amounts are initially deferred and subsequently recognized as revenue as the Company performs under the agreement and measured based on the costs incurred under the respective research programs. Of these upfront fees, k€64,026 was recognized as revenue in the year ended December 31, 2019 (k€49,536 in 2018; k€27,829 in 2017). As of December 31, 2019, k€131,556 upfront fees is recognized as deferred revenue within contract liabilities in the statement of financial position (as of December 31, 2018: k€195,582).

Through December 31, 2019, BioNTech received k€59,560 in upfront and near-term milestone payments from Sanofi under the Sanofi Agreement. Such amounts are initially deferred and subsequently recognized as revenue as the Company performs under the agreement and measured based on the costs incurred under the respective research programs. Of these upfront fees, k€4,233 was recognized as revenue in the year ended December 31, 2019 (k€8,535 in 2018; k€5,665 in 2017). As of December 31, 2019, k€34,483 upfront fees is recognized as deferred revenue within contract liabilities in the statement of financial position (as of December 31, 2018: k€38,716). During the year ended December 31, 2018, BioNTech recognized k€33,177 of revenue from Sanofi for reimbursement of 50% of Cellscript sublicense costs pursuant to a separate sub-sublicense agreement dated December 22, 2018.

Through December 31, 2019, BioNTech received k€43,044 in upfront fees from Pfizer under the Pfizer Collaboration Agreement. Such amounts are initially deferred and subsequently recognized as revenue as BioNTech performs under the agreement and measured based on the time elapsed under the respective research programs. Of these upfront fees, k€14,348 was recognized as revenue in the year ended December 31, 2019 (k€7,174 in 2018). As of December 31, 2019, k€21,522 upfront fees is recognized as deferred revenue within contract liabilities in the statement of financial position (as of December 31, 2018: k€35,870).

The transactions resulting from product sales that are included within the revenue from other sales transactions are as follows:

Years ended

December 31,

(in thousands)

2019

2018

2017

Product sales of JPT Peptide Technologies GmbH

€12,111

€10,748

€10,652

During the year ended December 31, 2019, BioNTech recognized revenue of k€1,059 under a bill-and-hold transaction for which the customer already had obtained control. The bill-and-hold arrangement is substantive since the request to retain the product in BioNTech’s facilities until January 2020 was initiated by the customer.

4.2	Contract Balances

(in thousands)

December 31,

2019

December 31,

2018

Trade receivables

€11,913

€18,938

Contract liabilities

190,692

271,674

Trade receivables are non-interest bearing and are generally settled within 20 to 30 days.

Contract assets are recognized for revenue earned from sales and services based on individual customer contracts of BioNTech Innovative Manufacturing Services GmbH. However, the customers’ advance payments exceeded BioNTech’s transferred goods and services for which a conditional right to consideration exists. Therefore, only contract liabilities net of contract assets are presented as per December 31, 2019 and December 31, 2018, respectively.

Contract liabilities include mainly upfront fees received from BioNTech’s major collaboration and license agreements. The outstanding balances of these accounts decreased during the year ended December 31, 2019 as revenues resulting from these agreements exceeded further payments received from the collaborators due to the achievement of milestones. During the year ended December 31, 2019, BioNTech did not receive upfront fees or an unconditional right of consideration from the collaboration and license agreements (year ended December 31, 2018: k€41,120) and recognized revenues resulting from collaboration and license agreements of k€82,607 (during the year ended December 31, 2018: k€65,068), which reduced the contract liabilities. In addition, during the year ended December 31, 2019, a milestone payment of k€1,821 was received from the Eli Lilly and Company collaboration agreement and recorded as revenue.

Set out below is the amount of revenue recognized for the periods indicated:

Years ended

December 31,

(in thousands)

2019

2018

2017

Amounts included in contract liabilities at the beginning of the year

€82,607

€65,068

€40,428

4.3	Performance Obligations

Information about BioNTech’s performance obligations is summarized below:

Collaboration and License Agreements

BioNTech accounts for its promises to grant licenses as performance obligations satisfied over time as the customers simultaneously receive and consume the benefit of BioNTech’s performance of providing access to its intellectual property as the performance occurs. BioNTech recognizes revenue over time by measuring the progress toward complete satisfaction of that performance obligation according to the method that demonstrates BioNTech’s performance towards complete satisfaction. In contracts in which the costs vary based on the stage of research, an input-based measure considering cost incurred depicts most reliably the progress of the related research activities. In other contracts, revenue recognition on a straight-line basis most reliably depicts BioNTech’s performance toward complete satisfaction. In case the contractual activities progress, the achievement of development milestones will be used to measure the progress toward complete satisfaction.

The deferred revenue allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at year-end are as follows:

(in thousands)	December 31, 2019	December 31, 2018
Within one year	€90,453	€64,522
More than one year	97,109	205,647
Total	€187,562	€270,169

The deferred revenue allocated to the remaining performance obligations does not contain deferred revenues of performance obligations which are part of contracts that have an original expected duration of one year or less or of performance obligations for which the consideration from the customer corresponds directly to the value to the customer of BioNTech’s performance to date at an amount of k€3,130 (December 31, 2018: k€1,505).

Group information

12 Months Ended

Dec. 31, 2019

Disclosure Of Significant Investments In Subsidiaries [Abstract]

Group information

5	Group information

Information about Subsidiaries

The consolidated financial statements of the Group include the following subsidiaries:

			% equity interest
Name	Country of incorporation	Registered office	December 31, 2019	December 31, 2018
BioNTech RNA Pharmaceuticals GmbH	Germany	Mainz	100%	100%
BioNTech Delivery Technologies GmbH (previously BioNTech Protein Therapeutics GmbH)	Germany	Halle (previously Mainz)	100%	100%
BioNTech Diagnostics GmbH	Germany	Mainz	100%	100%
BioNTech Small Molecules GmbH	Germany	Mainz	100%	100%
BioNTech IVAC GmbH (previously BioNTech Business Services GmbH)	Germany	Mainz	100%	100%
BioNTech Austria Beteiligungen GmbH	Austria	Vienna	100%	100%
BioNTech Innovative Manufacturing Services GmbH	Germany	Idar- Oberstein	100%	100%
reBOOST Management GmbH	Germany	Mainz	100%	n/a
JPT Peptide Technologies GmbH	Germany	Berlin	100%	100%
JPT Inc. (previously TheraCode JPT Inc.)	United States	Acton	100%	100%
BioNTech USA Holding LLC	United States	New York	100%	n/a
BioNTech Research and Development Inc.	United States	New York	100%	n/a
BioNTech Cell & Gene Therapies GmbH	Germany	Mainz	100%	94.50%
BioNTech Real Estate Holding GmbH (previously Apta IT GmbH)	Germany	Holzkirchen	100%	100%
BioNTech Real Estate Verwaltungs GmbH	Germany	Holzkirchen	100%	100%
BioNTech Real Estate GmbH & Co. KG	Germany	Holzkirchen	100%	100%

During the year ended December 31, 2019, two entities were founded in the United States: BioNTech USA Holding, LLC and BioNTech Research & Development, Inc. Both are wholly-owned subsidiaries of BioNTech SE. Additionally, reBOOST Management GmbH, was acquired through a share purchase which represents a related party transaction.

During the year ended December 31, 2018, BioNTech Real Estate Verwaltungs GmbH and BioNTech Real Estate GmbH & Co. KG were established.

Parent Company

ATHOS KG, Holzkirchen, Germany owns 100% of shares in AT Impf GmbH, Munich, Germany and is the beneficiary owner of BioNTech. AT Impf GmbH, Munich, Germany is the parent company of the Group and owned the following percentage of ordinary shares in BioNTech at the following dates as indicated:

Ownership of ordinary shares in BioNTech (in %)

Name

Country of incorporation

Registered office

December 31,

2019

December 31,

2018

AT Impf GmbH

Germany

Munich

50.33%

54.16%

Entity with significant Influence over the Group

Medine GmbH, Mainz owned the following percentage of ordinary shares in BioNTech at the following dates as indicated:

Ownership of ordinary shares in BioNTech (in %)

Name

Country of incorporation

Registered office

December 31,

2019

December 31,

2018

Medine GmbH

Germany

Mainz

18.38%

21.57%

Business Combinations

12 Months Ended

Dec. 31, 2019

Disclosure Of Business Combinations [Abstract]

Business Combinations

6	Business Combinations

MAB Discovery GmbH

In January 2019, BioNTech entered into an agreement to acquire MAB Discovery GmbH’s operational antibody generation unit based near Munich, Germany (hereinafter also referred to as “MAB Discovery”), for a total consideration of k€6,050. The employees of MAB Discovery were transferred automatically to BioNTech with effect as of the closing date. The acquisition closed on April 1, 2019.

The Group has acquired MAB Discovery because it intends to adopt and pursue the unit’s current business into its own.

The fair values of the identifiable net assets of MAB Discovery as at the date of acquisition were:

	Fair value recognized on acquisition
(in thousands)	MAB Discovery GmbH
Assets
Goodwill	€2,205
Other intangible assets	2,711
Property, plant and equipment	999
Inventories	135
Total identifiable net assets at fair value	€6,050

	Cash flow on acquisition
(in thousands)	MAB Discovery GmbH

Net cash acquired	-
Cash paid	€6,050
Net cash flow on acquisition	€(6,050)

The consolidated financial statements include the results of MAB Discovery since the acquisition date. From the date of acquisition, MAB Discovery contributed k€4,299 to loss before tax in the Technology Platform business segment from continuing operations of the Group. If the transaction would have occurred at the beginning of the reporting period, an estimated amount of k€5,232 would have contributed to loss before tax in the Technology Platform business segment. From the date of acquisition, MAB Discovery did not generate any revenue and no revenue would have been generated if the transaction would have occurred at the beginning of the reporting period. Goodwill recognized is primarily attributed to the expected synergies and other benefits from combining the assets and activities of MAB Discovery with those of the Group.

Transaction costs of k€91 relating to the acquisition have been expensed and are included in the general and administrative expenses within the condensed consolidated statement of operations and are part of operating cash flows in the statement of cash flows.

reBOOST Management GmbH

On August 29, 2019, BioNTech entered into an agreement to purchase all of the outstanding shares of reBOOST Management GmbH (hereinafter also referred to as “reBOOST”) from Medine GmbH, which is wholly owned by BioNTech’s Chief Executive Officer, Ugur Sahin. The k€279 purchase price consists of k€31 cash consideration and assumption of liabilities of up to k€248. The related party acquisition closed on September 2, 2019.

The consolidated financial statements include the results of reBOOST since the acquisition date. From the date of acquisition, reBOOST contributed k€213 to loss before tax in the Technology Platform business segment from continuing operations of the Group. If the transaction would have occurred at the beginning of the reporting period, an estimated amount of k€237 would have contributed to loss before tax in the Technology Platform business segment. From the date of acquisition, reBOOST did not generate any revenue and no revenue would have been generated if the transaction would have occurred at the beginning of the reporting period. The Group acquired reBOOST because it expects to lift synergies and other benefits arising from the ongoing collaborations of reBOOST with different co-operations.

Income and Expenses

12 Months Ended

Dec. 31, 2019

Analysis Of Income And Expense [Abstract]

Income and Expenses

7	Income and Expenses

7.1	Costs of Sales

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€7,206	€6,726	€6,105
Laboratory supplies	3,845	1,368	2,849
Purchased services	1,986	2,514	-
Depreciation and amortization	1,467	1,367	-
Other	2,857	1,715	364
Total	€17,361	€13,690	€9,318

7.2	Research and Development Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€83,213	€45,668	€31,970
Purchased services	65,552	42,079	22,686
Laboratory supplies	37,218	22,921	15,762
Depreciation and amortization	27,533	18,312	9,859
Lease and lease related cost	2,527	2,404	3,475
IT costs	3,800	1,572	366
Travel costs	1,546	1,281	776
Transport costs	1,081	668	396
Job advertisement expenses	1,040	352	-
Other	2,956	7,783	206
Total	€226,466	€143,040	€85,496

7.3	Sales and Marketing Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€1,938	€1,728	€1,631
Purchased services	247	794	2,771
Travel costs	88	267	260
Other	445	252	1,940
Total	€2,718	€3,041	€6,603

7.4	General and Administrative Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€19,122	€8,582	€9,861
Purchased services	6,419	5,177	3,544
IT and office equipment	4,573	3,774	2,706
Depreciation and amortization	4,855	2,284	630
Lease and lease related cost	1,715	1,012	1,611
Travel costs	1,391	1,043	247
Insurance premiums	1,061	145	99
Laboratory supplies	785	456	63
Job advertisement expenses	548	861	719
Other	5,078	3,000	4,039
Total	€45,547	€26,334	€23,520

7.5	Other Operating Income

	Years ended December 31,
(in thousands)	2019	2018	2017
Government grants	€1,547	€4,228	€2,266
Other	1,177	1,168	83
Total	€2,724	€5,396	€2,349

7.6	Finance Income

	Years ended December 31,
(in thousands)	2019	2018	2017
Interest income	€1,781	€1,996	€2,133
Foreign exchange gains (net)	2,341	6,050	-
Total	€4,122	€8,046	€2,133

Finance income results from BioNTech’s interests on short-term deposits. In the years ended December 31, 2019 and December 31, 2018 results from BioNTech’s unhedged USD cash accounts were recorded as foreign exchange gains.

7.7	Finance Expense

	Years ended December 31,
(in thousands)	2019	2018	2017
Financial instruments measured at amortized cost	€326	€48	€53
Foreign exchange loss (net)	-	-	25,955
Total	€326	€48	€26,007

In the year ended December 31, 2017, foreign exchange losses as a result from BioNTech’s unhedged USD cash accounts were recorded as finance expenses.

Income Tax

12 Months Ended

Dec. 31, 2019

Major Components Of Tax Expense Income [Abstract]

Income Tax

8	Income Tax

Tax expense for the years ended December 31, 2019, December 31, 2018 and December 31, 2017 are comprised of current income taxes and other taxes.

The following table illustrates the reconciliation of tax expense to the estimated tax rate for the periods indicated. The reconciliation for the year ended December 31, 2019 excludes an amount of k€28 for property tax expenses.

	Years ended December 31,
(in thousands)	2019	2018	2017
Loss before tax	€(179,440)	€(47,662)	€(85,905)

Expected tax benefit (based on BioNTech`s statutory tax rate of 30.78%, 2018: 30.99%, 2017: 30.86%)	55,240	14,776	26,517

Effects
Government grants exempted from taxes	48	28	17
Non-deductible expenses	(58)	(18)	(22)
Add-back for trade tax purposes	(110)	(96)	(70)
Non-recognition of tax-effect on share-based payment expenses	(9,308)	-	-
Tax-effective equity transaction costs	5,121	-	-
Utilization of tax losses	-	1,165	-
Non-recognition of deferred taxes on tax losses and temporary differences	(51,197)	(13,634)	(26,015)
Deviation valuation allowance prior year due to change tax rate	192	-	-
Effect from lower foreign income tax rate	(102)	-	-
Adjustment prior year tax	316	-	-
Other effects	154	(2,821)	(472)
Income tax expense	€296	€(600)	€(45)

Deferred Taxes

Deferred taxes for the periods indicated relate to the following:

Year ended December 31, 2019
(in thousands)	January 1, 2019	Recognized in P&L	December 31, 2019
Fixed assets	€(90)	€(565)	€(655)
Inventories	-	596	596
Leases	306	206	512
Contract liabilities (prior year revenues)	28,441	(4,898)	23,543
Provisions	134	53	187
Other (incl. deferred expenses)	161	1,926	2,087
Deferred Tax Assets Net (before valuation)	€28,951	€(2,681)	€26,270
Valuation Adjustment	(28,951)	2,681	(26,270)
Deferred Tax Assets Net (after valuation)	-	-	-

Year ended December 31, 2018
(in thousands)	January 1, 2018	Recognized in P&L	December 31, 2018
Fixed assets	€(877)	€787	€(90)
Inventories	83	(83)	-
Leases	83	223	306
Contract liabilities (prior year revenues)	16,631	11,810	28,441
Provisions	73	61	134
Other	684	(523)	161
Deferred Tax Assets Net (before valuation)	€16,676	€12,275	€28,951
Valuation Adjustment	(16,676)	(12,275)	(28,951)
Deferred Tax Assets Net (after valuation)	-	-	-

Accumulated tax losses of the Group for the periods indicated amount to the following:

	Years ended December 31,
(in thousands)	2019	2018	2017
Corporate Tax	€356,044	€179,264	€178,491
Trade Tax	352,341	176,425	176,024

Deferred tax assets on tax losses have not been capitalized as there is not sufficient probability in terms of IAS 12 that there will be future taxable profits available against which the unused tax losses can be utilized. The accumulated tax losses as at December 31, 2019 relate to Germany and the United States (as at December 31, 2018: Germany). There is no expiration date for any of the accumulated tax losses under German or US tax law.

Earnings per share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings per share

9	Earnings per Share

Basic earnings per share (EPS) is calculated by dividing the loss for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.

Diluted EPS is calculated by dividing the profit attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.

On September 18, 2019, BioNTech effected a 1:18 share split by issuing 206,595,492 shares by way of a capital increase from its own funds; thus, no outside proceeds were received. This capital increase came into effect upon registration with the commercial register (Handelsregister). The accompanying financial statements and notes to the financial statements including the EPS information below give retroactive effect to the share split for all periods presented.

The following table reflects the income and share data used in the basic and diluted EPS calculations:

	Years ended December 31,
(in thousands)	2019	2018	2017
Loss attributable to ordinary equity holders of the parent for basic earnings	€(179,056)	€(48,019)	€(85,653)

Weighted average number of ordinary shares for basic EPS	211,499	190,710	166,764
Effects of dilution from share options	-	-	-
Weighted average number of ordinary shares adjusted for the effect of dilution	211,499	190,710	166,764

There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of authorization of these financial statements. Stock options were not included in the calculation of diluted EPS because they are antidilutive for the periods presented.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Disclosure Of Property Plant And Equipment [Abstract]

Property, Plant and Equipment

10	Property, Plant and Equipment

(in thousands)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Acquisition and production costs	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
As of January 1, 2018	€13,077	€58,080	€6,153	€77,310
Additions	8,925	11,322	6,154	26,401
Disposals	-	(858)	-	(858)
Reclassifications	145	5,069	(5,216)	-
As of December 31, 2018	€22,147	€73,613	€7,091	€102,853
As of January 1, 2019	€22,147	€73,613	€7,091	€102,853
Additions	7,269	8,700	22,623	38,592
Disposals	-	(105)	(10)	(115)
Reclassifications	53	-	(53)	-
Currency differences	-	(1)	1	-
Acquisition of subsidiaries and businesses, net of cash acquired	-	999	-	999
As of December 31, 2019	€29,469	€83,206	€29,652	€142,329

(in thousands)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Cumulative depreciation and impairment charges	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
As of January 1, 2018	€5,690	€22,013	-	€27,703
Depreciation	782	8,349	-	9,131
Disposals	-	(182)	-	(182)
As of December 31, 2018	€6,472	€30,180	-	€36,652
As of January 1, 2019	€6,472	€30,180	-	€36,652
Depreciation	1,854	10,861	-	12,715
Disposals	-	(79)	-	(79)
Currency differences	-	(3)	-	(3)
As of December 31, 2019	€8,326	€40,959	-	€49,285

(in thousands)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Carrying amount	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
As of January 1, 2018	€7,387	€36,067	€6,153	€49,606
As of December 31, 2018	€15,675	€43,433	€7,091	€66,200
As of December 31, 2019	€21,143	€42,247	€29,652	€93,044

Intangible Assets

12 Months Ended

Dec. 31, 2019

Disclosure Of Intangible Assets [Abstract]

Intangible Assets

11	Intangible Assets

(in thousands)	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
Acquisition costs	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
As of January 1, 2018	€534	€85,271	€3,565	€89,370
Additions	-	12,150	3,128	15,278
Disposals	-	-	(765)	(765)
Reclassifications	-	4,431	(4,431)	-
As of December 31, 2018	€534	€101,853	€1,497	€103,883
As of January 1, 2019	€534	€101,853	€1,497	€103,883
Additions	-	11,744	1,529	13,273
Disposals	-	(133)	(477)	(610)
Reclassifications	-	146	(146)	-
Currency differences	-	(23)	-	(23)
Acquisition of subsidiaries and businesses, net of cash acquired	2,444	2,726	-	5,170
As of December 31, 2019	€2,978	€116,313	€2,403	€121,693

(in thousands)	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
Cumulative depreciation and impairment charges	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
As of January 1, 2018	-	€5,833	-	€5,833
Depreciation	-	10,009	-	10,009
As of December 31, 2018	-	€15,842	-	€15,842
As of January 1, 2019	-	€15,842	-	€15,842
Depreciation	-	16,502	-	16,502
Disposals	-	(81)	-	(81)
Currency differences	-	(3)	-	(3)
As of December 31, 2019	-	€32,260	-	€32,260

(in thousands)	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
Carrying amount	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
As of January 1, 2018	€534	€79,438	€3,565	€83,537
As of December 31, 2018	€534	€86,011	€1,497	€88,042
As of December 31, 2019	€2,978	€84,053	€2,403	€89,434

Contractual Commitments

Contractual commitments for the acquisition of intangible assets amounts to Nil as of December 31, 2019 (as of December 31, 2018: k€19,482).

Goodwill

For impairment testing, goodwill acquired through business combinations and intangible assets not yet in use have been allocated to the respective cash-generating units (CGU).

The goodwill acquired in the respective business combinations for the dates indicated is presented in the following table:

	MAB Discovery		JPT Peptide Technologies		reBOOST		Total
(in thousands)	As of December 31, 2019	As of December 31, 2018	As of December 31, 2019	As of December 31, 2018	As of December 31, 2019	As of December 31, 2018	As of December 31, 2019	As of December 31, 2018
Goodwill	€2,205	-	€534	€534	€239	-	€2,978	€534

The Group performs its annual goodwill impairment test for the respective year as per October 1.

The recoverable amount was determined on a value in use calculation using cash flow projections from budgets approved by senior management covering at least a five-year period.

Management concluded that no reasonable possible change of key assumptions on which the calculation of the recoverable amount is based would cause the carrying amount of the CGU to exceed its recoverable amount.

The pre-tax discount rate applied to cash flow projections for the year ended December 31, 2019 is 9.0% (for the year ended December 31, 2018: 12.2%) and cash flows beyond the five-year period are extrapolated using a 1.8% growth rate (for the year ended December 31, 2018: 1.0%).

As the recoverable amount exceeded the carrying amount of the CGU for every balance sheet date, no impairment charge was required.

Intangible Assets not yet Available for Use

Intangible assets not yet available for use did not exist in the years ended December 31, 2019 and December 31, 2018.

Financial Assets and Financial Liabilities

12 Months Ended

Dec. 31, 2019

Disclosure Of Financial Instruments [Abstract]

Financial Assets and Financial Liabilities

12	Financial Assets and Financial Liabilities

12.1	Capital Risk Management

The objective of the capital management of BioNTech is primarily designed to finance the Group’s growth strategy.

The Group’s controlling committee reviews the total amount of cash of the Group on a weekly basis. As part of this review, the committee considers the total cash and cash equivalents, the cash outflow, currency translation differences and refinancing activities. The Group monitors cash using a burn rate. The cash burn rate is defined as the average monthly net cash flow from operating and investing activities during a financial year.

(in thousands)

December 31,

2019

December 31,

2018

Cash and cash equivalents at banks and on hand

€519,149

€411,495

Total

€519,149

€411,495

In meeting its financing objectives, the Group negotiates and enters into research cooperation agreements. In general, the aim is to maximize the financial resources available for further research and development projects.

BioNTech is not subject to externally imposed capital requirements. The objectives of BioNTech’s capital management were achieved in the reporting year.

No changes were made in the objectives, policies or processes for managing cash during the years ended December 31, 2019 and December 31, 2018.

12.2	Categories of Financial Instruments

Financial assets at amortized cost

(in thousands)	December 31, 2019	December 31, 2018
Trade receivables	€11,913	€18,938
Other financial assets and receivables	1,680	354
Total	€13,593	€19,292
Total current	13,593	19,273
Total non-current	-	18

Financial liabilities: Financial liabilities at amortized cost (including interest-bearing loans and borrowings)

(in thousands)	Maturity	December 31, 2019	December 31, 2018
Trade payables		€19,909	€41,721
Lease liabilities		56,683	50,752
2.15% € 10,000,000 secured bank loan	12/30/2027	9,000	4,000
2.08% € 9,450,000 secured bank loan	09/30/2028	7,600	1,600
Other financial liabilities		11,551	6,132
Total		€104,743	€104,205
Total current		35,699	49,987
Total non-current		69,044	54,218

2.15% Secured Loan

The loan is secured by a lien over land and buildings with a carrying value of k€10,000 as at December 31, 2019 (December 31, 2018: k€10,000). Additionally, the loan is secured by a permanent guarantee (Höchstbetragsbürgschaft) of the Company to the bank to the amount of k€10,000. The loan is repayable in equal quarterly instalments of k€312.5 commencing on March 31, 2020. As at December 31, 2019, the undrawn available amount is k€1,000.

2.08% Bank Loan

The loan is secured by a lien over land and buildings to the amount of k€9,450. Additionally, the loan is secured by a permanent guarantee (Höchstbetragbürgschaft) of the Company to the bank to the amount of k€9,450 as at December 31, 2019 (December 31, 2018: k€9,450). The loan is repayable by quarterly instalments of k€286.4 commencing on September 30, 2020. As at December 31, 2019, the available undrawn amount of k€1,850 will be drawn on a predetermined date.

12.3	Fair Values

Fair values of cash and cash equivalents, trade receivables, trade payables and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

The liabilities include two fixed-interest rate loans. The fair value of the two fixed-interest rate loans is calculated based on significant observable inputs (Level 2). As of December 31, 2019 and December 31, 2018, the carrying value approximates their fair values as there have been no significant changes in relevant interest rates since inception of the respective loans.

12.4	Financial Instruments Risk Management Objectives and Policies

The Group’s financial liabilities comprise of bank loans, lease liabilities, trade and other payables. The main purpose of these financial liabilities is to enable the Group’s operations. The Group’s principal financial assets include mainly cash and trade receivables that derive directly from its operations.

The Group is exposed to market risk, credit risk and liquidity risk. The Group’s senior management oversees the management of these risks.

The controlling committee provides assurance to the Group’s senior management that the Group’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Group’s policies and risk objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below.

12.5	Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices. Market risk comprises of three types of risk: interest risk, foreign currency risk and other price risk. Financial instruments affected by market risk include cash and cash equivalents. Interest risk as well as other price risk are not considered as risks for the Group.

The sensitivity analysis in the following sections relate to the position as at December 31, 2019 and December 31, 2018.

There were no material changes in the Group’s market risk exposures or changes in the way risk was managed and valued during the periods.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group’s exposure to the risk of changes in foreign currency rates relates primarily to the Group’s operating activities (when revenue or expense is denominated in a foreign currency).

In order to reduce exchange rate risk, BioNTech makes every effort to generate expenses and income in the same functional currency. The Group does not hedge exchange rate risks.

The carrying amount of the monetary assets (the Group’s cash and cash equivalents) of BioNTech denominated in foreign currencies at the dates indicated are as follows:

(in thousands)

December 31,

2019

December 31,

2018

USD Bank accounts

€213,913

€176,376

Total

€213,913

€176,376

The following tables demonstrate the sensitivity to a reasonably possible change in USD exchange rates, with all other variables held constant. The impact on the Group’s profit before tax is due to changes in the fair value of monetary assets. The Group’s exposure to foreign currency changes for all other currencies is not material.

	1 € =	Closing rate		Average rate
Currency	Country	2019	2018	2019	2018
USD	United States	1.1234	1.1450	1.1195	1.1810

(in thousands)	Change in USD rate	Effect on loss before tax	Effect on pre-tax equity
2019	+5 %	€(10,186)	€(10,186)
2019	-5%	€11,259	€11,259
2018	+5 %	€(8,399)	€(8,399)
2018	-5%	€9,283	€9,283

12.6	Credit Risk Management

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities, including deposits with banks and financial institutions, foreign exchange transactions and trade accounts receivable.

Trade Receivables and Contract Assets

The Group’s exposure to credit risk of trade receivables and contract assets is primarily on transactions with corporate customers in the biopharma/biotech industry that operate in Germany or in the United States. An analysis of the aging of receivables and the creditworthiness of customers is used to evaluate this risk at each reporting date. The Group follows risk control procedures to assess the credit quality of the customers taking into account their financial position, past experience and other factors. The compliance with credit limits by corporate customers is regularly monitored by management.

The credit risk on trade receivables and contract assets is very low as the customer portfolio of BioNTech mainly consists of medical universities, other public institutions and peers in the biopharma industry, which all have a very high credit rating and the group has not incurred bad debt expense. BioNTech does not expect that its customer portfolio will change.

Generally, trade receivables are written off if past due for more than one year and are not subject to enforcement activity. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 12.2. The Group does not hold collateral as security.

Cash Deposits

Credit risk from balances with banks and financial institutions is managed by the Group’s controlling department in accordance with the Group’s policy. Investments of surplus funds are made only with banks.

Credit risk stemming from cash and deposits is very low.

The Group’s maximum exposure to credit risk for the components of the statements of financial position at December 31, 2019 and December 31, 2018 are the carrying amounts as illustrated in Note 12.1.

12.7	Liquidity Risk

Generally, BioNTech has relied on the financing from shareholders and collaborators in order to ensure sufficient liquidity. Lack of external financial support could pose a risk of going concern. The liquidity management of BioNTech ensures the availability of cash and cash equivalents for operational activities and further investments through appropriate budget planning. In addition, a sufficient level of cash and cash equivalents, which is managed centrally, is always maintained to finance the operational activities.

The Group monitors liquidity risks using a liquidity planning tool.

Ultimately, the responsibility for liquidity risk management lies with the management, which has established an appropriate approach to managing short-, medium- and long-term financing and liquidity requirements. BioNTech manages liquidity risks by holding appropriate reserves, as well as by monitoring forecasted and actual cash flows and reconciling the maturity profiles of financial assets and liabilities.

Risk Concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Group’s performance to developments affecting a particular industry.

In order to avoid concentrations of risk, the Group’s policies and procedures include specific guidelines to focus on the maintenance of an effective diversification in the sources of funding and distribution of cash deposits. Identified concentrations of credit risks are controlled and managed accordingly.

The maturity profile of the Group’s financial liabilities based on contractual undiscounted payments is summarized as follows:

Year ended December 31, 2019
(in thousands)	Less than 1 year	1 to 5 years	More than 5 years	Total
Interest bearing loans and borrowings	€2,220	€10,693	€8,355	€21,268
Trade and other payables	€20,498	-	-	€20,498
Lease liabilities	€5,176	€17,882	€55,852	€78,910
Other financial liabilities	€10,351	-	-	€10,351
Total	€38,245	€28,575	€64,207	€131,027

Year ended December 31, 2018
(in thousands)	Less than 1 year	1 to 5 years	More than 5 years	Total
Interest bearing loans and borrowings	-	€5,600	-	€5,600
Trade and other payables	41,721	-	-	41,721
Lease liabilities	3,822	13,346	56,524	73,692
Other financial liabilities	6,132	-	-	6,132
Total	€51,675	€18,946	€56,524	€127,145

12.8	Changes in Liabilities arising from Financing Activities

Year ended December 31, 2019
(in thousands)	January 1, 2019	Cash flows	New leases and disposals	Reclassification	December 31, 2019
Current obligations under lease contracts	€2,134	€(3,061)	€1,484	€2,928	€3,485
Non-current obligations under lease contracts	48,618	-	8,437	(2,928)	54,127
Interest-bearing loans and borrowings	5,600	11,000	-	-	16,600
Total	€56,352	€7,939	€9,921	-	€74,212

Year ended December 31, 2018
(in thousands)	January 1, 2018	Cash flows	New leases and disposals	Reclassification	December 31, 2018
Current obligations under lease contracts	€1,832	€(2,126)	€296	€2,132	€2,134
Non-current obligations under lease contracts	50,349	-	401	(2,132)	48,618
Interest-bearing loans and borrowings	-	5,600	-	-	5,600
Total	€52,182	€3,474	€697	-	€56,352

Inventories

12 Months Ended

Dec. 31, 2019

Classes Of Inventories [Abstract]

Inventories

13	Inventories

(in thousands)	December 31, 2019	December 31, 2018
Raw materials and supplies	€8,201	€4,475
Unfinished goods	2,888	80
Finished goods	633	1,234
Total	€11,722	€5,789

During the year ended December 31, 2019, inventories of k€2,182 (during the year ended December 31, 2018: k€1,789) were recognized as an expense and recognized in cost of sales.

BioNTech has not pledged any inventories as securities for liabilities.

Trade receivables

12 Months Ended

Dec. 31, 2019

Trade And Other Receivables [Abstract]

Trade Receivables

14	Trade Receivables

(in thousands)

December 31,

2019

December 31,

2018

Trade receivables

€11,913

€18,938

Total

€11,913

€18,938

Trade receivables are non-interest bearing and are generally due on terms of 20 to 30 days. As described in Note 12.6, expected credit loss for trade receivables is immaterial.

Other Assets

12 Months Ended

Dec. 31, 2019

Miscellaneous Current Assets [Abstract]

Other Assets

15	Other Assets

(in thousands)	December 31, 2019	December 31, 2018
Sales tax receivable	€7,536	€8,611
Prepayments on inventories	351	155
Other	1,182	398
Total	€9,069	€9,164

As at December 31, 2019, other assets mainly comprised interest income of k€529 and receivables from withholding taxes of k€310 (as at December 31, 2018, other assets were mainly comprised of interest income of k€270).

Issued Capital and Reserves

12 Months Ended

Dec. 31, 2019

Disclosure Of Classes Of Share Capital [Abstract]

Issued Capital and Reserves

16	Issued Capital and Reserves

Year ended December 31, 2019

On September 18, 2019, BioNTech effected a 1:18 share split by issuing 206,595,492 shares by way of a capital increase from its own funds; thus, no outside proceeds were received. This capital increase came into effect upon registration with the commercial register (Handelsregister). The accompanying financial statements and notes to the financial statements give retroactive effect to the share split for all periods presented.

The financing transactions that occurred during the year ended December 31, 2019 were as follows:

Issuance of Share Capital

In January 2019, BioNTech issued 5,088,204 shares and increased its share capital by k€5,088. The cash investment of k€80,006 was received in 2018 (k€79,997).

On August 30, 2019, BioNTech entered into agreements with the Bill & Melinda Gates Foundation (BMGF). BMGF agreed to purchase 3,038,674 ordinary shares with nominal amount of k€ 3,039 of BioNTech for a total of k€49,864 (k$55,000). These agreements require BioNTech to perform certain research and development activities to advance the development of products for the prevention and treatment of HIV and tuberculosis. In the event of a breach of the underlying conditions, including such research and development activities, BMGF has the right to sell its shares back to BioNTech at the initial share price or fair market value, whichever is higher, subject to certain conditions. BioNTech’s ability to pay dividends is also limited under the terms of these agreements.

Capital Increase Series B

In June and August 2019, BioNTech issued an aggregate of 12,465,288 of ordinary shares (excluding 5,524,506 ordinary shares which were issued to a Hong Kong-based investor and subsequently transferred to BioNTech for no consideration; these shares are held as treasury shares) to certain new and existing shareholders at a price of USD 18.10 per share for aggregate proceeds of k€198,548 (k$225,622). These share issuances led to an increase of share capital of k€ 17,990 and capital reserve of k€ 186,390 and recognition of a treasury share balance of k€ 5,525.

Initial Public Offering (IPO)

On October 10, 2019, BioNTech increased its share capital by k€10,000 in conjunction with the Initial Public Offering. American Depositary Shares which represent ordinary shares were offered on the Nasdaq Global Select Market at a price of $15.00. On November 6, 2019, BioNTech increased its share capital by k€517 upon the execution of the underwriter´s option. American Depositary Shares which represent ordinary shares were issued at a price of $15.00 (under both issuances). The gross proceeds were k€143,260 (k$157,761) including k€10,517 increase in share capital and k€132,743 increase in capital reserve.

Acquisition of Non-Controlling Interest

As of March 14, 2019, BioNTech acquired the remaining 5.5% of non-controlling interests in BioNTech Cell & Gene Therapies GmbH held by Eli Lilly Nederland B.V. in exchange of issuing 2,374,794 new ordinary shares with an imputed share in the share capital of €1.00 each. This acquisition was recognized within equity and resulted in the derecognition of the non-controlling interest of k€731 as well as an increase to the share capital of k€2,375. The net effect of the transaction of k€1,644 was recognized as a decrease in the capital reserve.

Year ended December 31, 2018

During the year ended December 31, 2018, the issued capital increased by k€26,532. The increase was mainly related to k€22,588 issued during the Series A financing round, k€3,361 issued as share capital and k€583 issued in the course of settling the share-based payment plan. As a result of the financing transactions the capital reserve increased during the year ended December 31, 2018, by k€335,193.

Year ended December 31, 2017

During the year ended December 31, 2017, a capital increase from company funds increased the issued capital and decreased the capital reserve by k€163,494.

Share-based payments

12 Months Ended

Dec. 31, 2019

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]

Miscellaneous Current Liabilities [Abstract]

17	Share-Based Payments

On September 18, 2019, BioNTech effected a 1:18 share split by issuing 206,595,492 shares by way of a capital increase from its own funds; thus, no outside proceeds were received. This capital increase came into effect upon registration with the commercial register (Handelsregister). The accompanying financial statements and notes to the financial statements including share-based payment information below give retroactive effect to the share split for all periods presented.

During the years ended December 31, 2019, December 31, 2018 and December 31, 2017, the Group had the following share-based arrangements.

17.1	Chief Executive Officer Grant (Equity-Settled)

Description of Share-Based Payments

In September 2019, BioNTech agreed to grant Prof. Ugur Sahin, M.D. an option to purchase 4,374,963 ordinary shares, subject to Prof. Sahin’s continuous employment with BioNTech. The options’ per share exercise price is the Euro translation of the public offering price from BioNTech’s initial public offering, €13.60 ($15.00). The option will vest annually in equal installments after four years commencing on the first anniversary of the initial public offering and will be exercisable four years after the initial public offering. The option will be subject to the terms, conditions, definitions and provisions of the Employee Stock Ownership Plan (ESOP) and the applicable option agreement thereunder. The vested option rights can only be exercised if and to the extent that each of the following performance criteria has been achieved: (i) at the time of exercise, the current price is equal to or greater than the Threshold Amount (that is, the exercise price, provided that such amount increases by seven percentage points on each anniversary of the Allocation Date); (ii) at the time of exercise, the current price is at least equal to the Target Price (that is, (a) for the twelve-month period starting on the fourth anniversary of the Allocation Date, $8.5 billion divided by the total number of the shares outstanding immediately following the initial public offering (other than shares owned by BioNTech), and (b) for each twelve-month period starting on the fifth or subsequent anniversary of the Allocation Date, 107% of the target share price applicable for the prior twelve-month period); and (iii) the closing price for the fifth trading day prior to the start of the relevant exercise window is higher than the exercise price by at least the same percentage by which the Nasdaq Biotechnology Index or a comparable successor index as of such time is higher than such index was as of the last trading day before the Allocation Date. The Option Rights can be exercised at the latest ten years after the Allocation Date. If they have not been exercised by that date, they will lapse without compensation.

Measurement of Fair Values

A Monte-Carlo simulation model has been used to measure the fair value at grant date of the Chief Executive Officer Grant. This model incorporates the impact of the performance criteria regarding share price and index development described above in the calculation of the award’s fair value at grant date. The inputs used in the measurement of the fair value at grant date of the Chief Executive Officer Grant were as follows:


		Grant date October 10, 2019
Weighted average fair value		€5.63
Weighted average share price		€13.60
Exercise price		€13.60
Expected volatility (%)		41.4%
Expected life (years)		5.37
Risk-free interest rate (%)		1.52 %

The options’ per share exercise price is the Euro translation of the public offering price from BioNTech’s initial public offering on October 10, 2019. Expected volatility was based on an evaluation of the historical volatilities of comparable companies over the historical period commensurate with the expected term. The expected term was based on general optionholder behavior for employee options.

Reconciliation of Outstanding Share-Options

The number and weighted-average exercise price of share options under the Chief Executive Officer Grant during the year ended December 31, 2019 were as follows:

	Share options outstanding	Number of Ordinary Shares underlying options	Weighted average exercise price (€)
As of January 1, 2019	-	-	-
Granted	4,374,963	4,374,963	13.60
As of December 31, 2019	4,374,963	4,374,963	13.60

The options outstanding at December 31, 2019 have a weighted-average expected life of 5.12 years.

Expense recognized in the Statement of Operations

The expense recognized for employee services received during the year ended December 31, 2019 is shown in the following table:

		Year ended December 31,
(in thousands)		2019
Research and development expenses		€3,208
Total		€3,208

There were no cancellations or modifications to the awards in the year ended December 31, 2019.

17.2	Employee Stock Ownership Plan (Equity-Settled)

Description of Share-Based Payments

On November 15, 2018, the Group established a share option program that grants selected employees options to receive shares in the company. The program is designed as an Employee Stock Ownership Plan (ESOP). The Group has offered the participants a certain number of rights (Option Rights) by explicit acceptance of the participants. The exercise of the Option Rights in accordance with the terms of the ESOP, gives the participants the right to obtain shares against payment of the exercise price. The Option Rights vest over four years, can only be exercised if the company has executed a public offering in the United States (IPO) and when meeting the Threshold Amount. Threshold Amount means the exercise price provided that such price increases by eight percentage points on the first and then each subsequent anniversary of the Allocation Date (September 26, 2018). The Option Rights can be exercised at the latest eight years after the Allocation Date. If they have not been exercised by that date, they will forfeit without compensation.

Measurement of Fair Values

The fair value of the ESOP has been measured using a binomial model. Service conditions attached to the arrangement were not taken into account in measuring the fair value.

The share options can only be exercised by the grantee if the price of the share is equal or greater to the Threshold Amount as defined in the arrangement. Moreover, the option rights can only be exercised if the IPO has occurred. Both conditions have been incorporated into the fair value at grant date.

The inputs used in the measurement of the fair values at grant date of the ESOP was as follows:

	Grant date 15 November 2018	Grant dates between February 21 - April 3, 2019	Grant dates between April 29 - May 31, 2019	Grant date December 1, 2019
Weighted average fair value	€7.41	€6.93	€7.04	€9.49
Weighted average share price	€14.40	€15.72	€16.03	€19.84
Exercise price	€10.14	€15.03	€15.39	€15.82
Expected volatility (%)	46.0%	46.0%	46.0%	46.0%
Expected life (years)	5.84	6.00	6.00	5.50
Risk-free interest rate (%)	0.05%	0.05%	0.05%	0.05%

Expected volatility has been based on an evaluation of the historical and the implied volatilities of comparable companies over the historical period commensurate with the expected term. The expected term has been based on general option holder behavior for employee options.

Reconciliation of Outstanding Share-Options

The number and weighted-average exercise prices of share options under the ESOP during the years ended December 31, 2019 and December 31, 2018 were as follows:

	Share options outstanding	Number of Ordinary Shares underlying options	Weighted average exercise price (€)
As of January 1, 2018	-	-	-
Granted	658,109	11,845,962	10.14
As of December 31, 2018	658,109	11,845,962	10.14
As of January 1, 2019	658,109	11,845,962	10.14
Granted	14,511	261,198	15.17
Forfeited	(17,237)	(310,266)	10.85
As of December 31, 2019	655,383	11,796,894	10.23

The options outstanding at December 31, 2019 have a weighted-average expected life of 4.73 years.

Expense recognized in the Statement of Operations

The expense recognized for employee services received during the years ended December 31, 2019 and December 31, 2018 is shown in the following table:

	Years ended December 31,
(in thousands)	2019	2018
Cost of sales	€896	€114
Research and development expenses	20,016	6,786
Sales and marketing expenses	108	13
General and administrative expenses	6,008	728
Total	€27,028	€7,641

There were no cancellations or modifications to the awards in the years ended December 31, 2019 and December 31, 2018.

17.3	Share appreciation rights (Equity-Settled)

Description of Share-Based Payments

On December 1, 2017, the Group granted 582,714 shares to selected employees under the share appreciation rights (SAR) program. The shares vested immediately at the grant date (December 2017) as there were no vesting conditions.

There were no other SARs granted during the years ended December 31, 2019 and December 31, 2018.

Measurement of Fair Values

The fair value of the SARs has been determined using a discounted cash flow (DCF) model as of December 2017.

The inputs used in the measurement of the fair values at grant date of the SARs were as follows:

		Grant date 1 December 2017
Fair value		10.13€
Exercise price		10.13€
WACC		8.2%
Tax rate		31.2%
Debt free net working capital (in % of sales)		5.5%
Risk-free interest rate (%)		1.2%
Long-term growth rate (%)		1.8%

Growth rate estimates are based on epidemiology data for different indications in focus geographies. The average market growth rates per indication and stage have been extrapolated with data derived from published industry research.

The expected life of the SARs is based on historical data and current expectations and is not necessarily indicative of exercise patterns that may occur.

Expected dividends were not incorporated into the measurement of fair value.

Expense recognized in the Statement of Operations

The expense recognized for employee services received during the year ended December 31, 2017 is shown in the following table:

	Year ended December 31,
(in thousands)	2017
Cost of sales	-
Research and development expenses	3,620
Sales and marketing expenses	14
General and administrative expenses	2,275
Total	€5,909

17.3	Net Settlement Feature for Withholding Tax Obligation

Under the agreement, BioNTech must withhold an amount for an employee’s tax obligation associated with the share-based payment and transfer that amount in cash to the tax authority on the employee’s behalf. BioNTech does not withhold shares in order to settle the employee’s tax obligations. The Group withheld an amount of k€7,761 that was paid to the taxation authority in relation to the SARs in the year ended December 31, 2018.

Other Liabilities

12 Months Ended

Dec. 31, 2019

Other Liabilities

18	Other Liabilities

(in thousands)	December 31, 2019	December 31, 2018
Liabilities employees	€6,710	€5,236
Other	780	3,864
Total	€7,490	€9,100

Other liabilities comprise accruals for outstanding invoices in the amount of k€715 as at December 31, 2019 (as at December 31, 2018: k€3,739) and several other non-material positions.

Leases

12 Months Ended

Dec. 31, 2019

Presentation Of Leases For Lessee [Abstract]

Leases

19.1	Amounts Recognized in the Statement of Financial Positions

Right-of-Use Assets

The following amounts are presented as right-of-use assets within the statement of financial positions as of the dates indicated:

	December 31, 2019	December 31, 2018
Buildings	€54,956	€49,718
Equipment, tools and installations	7	21
Automobiles	55	27
Total	€55,018	€49,766

Additions to the right-of-use assets during the year ended December 31, 2019 were k€10,040 (during the year ended December 31, 2018: k€723).

Lease Liability

The following amounts are included in other financial liabilities as of the dates indicated:

(in thousands)	December 31, 2019	December 31, 2018
Current	€3,485	€2,134
Non-current	54,127	48,618
Total	€57,612	€50,752

19.2	Amounts Recognized in the Statement of Operations

Depreciation Charge of Right-of-Use Assets

	Years ended December 31,
(in thousands)	2019	2018	2017
Buildings	€4,614	€2,751	€1,759
Equipment, tools and installations	25	60	111
Automobiles	40	35	39
Total depreciation charge	€4,679	€2,846	€1,909

Interest on lease liabilities	€1,718	€1,721	€676
Expense related to short-term leases (included in other expenses)	442	431	442
Expense relating to leases of low-value assets that are not short-term leases (included in other expenses)	90	90	95
Total amounts recognized in profit or loss	€6,929	€5,088	€3,122

19.3	Amounts recognized in the Statements of Cash Flows

During the year ended December 31, 2019, the total cash outflow for leases amounted to k€4,779 (during the year ended December 31, 2018: k€3,847; during the year ended December 31, 2017: k€2,319).

Segment Information

12 Months Ended

Dec. 31, 2019

Disclosure Of Operating Segments [Abstract]

Segment Information

20	Segment Information

BioNTech develops individualized treatments for cancer patients and improved therapeutics to treat infectious and rare diseases. This activity, together with research and development activities, forms the core of the company. External services provide the interface where medical products are sold to third parties.

BioNTech’s business is managed in two business units, the biotech business unit and the external services business unit. The biotech business unit is comprised of three operation segments, which are individually monitored by the Chief Operating Decision Maker (CODM). Four operating segments have been identified in accordance with IFRS 8. No aggregation of operating segments was performed.

Resource allocation and performance assessment is performed at the level of the Management Board. The Management Board members are jointly responsible for the management and strategic decision making. Consequently, the Management Board has been identified as the CODM. BioNTech’s business consist of the following reportable segments:

Research and Development activities form the Biotech Business Unit and are divided in the segments Clinical, Technology Platform and Manufacturing.

The Clinical segment subsumes all development activities relating to clinical programs. Clinical studies include testing the product candidates on humans. Clinical trials are an essential part of the development and licensing of the medicinal products and are performed before the respective product can be placed on the market. BioNTech is actively engaged in many collaborations and licensing deals with reputable pharmaceutical companies and academic partners.

Technology Platform contains all development activities relating to preclinical programs. Preclinical development is the stage of research that begins before clinical trials. It is performed to determine the desired pharmacological effects and to identify any unwanted effects that may cause adverse reactions during human exposure.

Manufacturing is an essential part of the research and development process as it comprises the manufacturing unit of mRNA and engineered cell therapies. All the medical substances and tools that form the basis for the research studies performed at BioNTech are manufactured in this segment, (i.e., the Manufacturing segment contains only internally produced substances and tools).

Product Sales & External Services comprises the legal entities JPT Peptide Technology GmbH and Innovative Manufacturing Services GmbH (IMFS), which form the interface to third parties. External services and medicinal products (e.g., peptides and retroviral vectors) that are in the areas of molecular immunotherapies and biomarker-based diagnostic approaches for individualized treatment of cancer and other infectious diseases are sold to customers worldwide.

Business Service contains the Group’s central administrative functions (e.g., Finance, Procurement, Human Resources, Legal and Intellectual Property) and overarching projects. Business Service does not fulfil the requirements for an operating segment according to IFRS 8, as it will never generate more than incidental revenues. However, financial information about Business Service is disclosed, as it contributes to the understanding of the company.

The table below reconciles segment figures to Group figures for the periods indicated:

	Business Unit BioNTech				External Services Business Unit
(in thousands)	Clinical	Technology Platform	Manufacturing	Business Service	Product Sales & External Services	Total	Adjustments	Group
Year ended December 31, 2019
Revenues
Collaboration Revenues	€33,493	€2,147	€48,788	-	-	€84,428		€84,428
Revenues from other sales transactions	-	692	2	-	23,467	24,161		24,161
Cost of sales	-	-	-	-	(16,923)	(16,923)	(438)	(17,361)
Gross profit	€33,493	€2,839	€48,790	-	€6,544	€91,666	€(438)	€91,228
Income / Expenses
Research and development expenses	(91,516)	(79,119)	(50,478)	(5,192)	(600)	(226,905)	439	(226,466)
Sales and marketing expenses	-	-	-	(1,302)	(1,415)	(2,717)	(1)	(2,718)
General and administrative expenses	-	-	(3,821)	(38,756)	(2,970)	(45,547)	-	(45,547)
Other result	1,125	307	59	23	468	1,982	3	1,985
Segment operating income / (loss)	€(56,898)	€(75,973)	€(5,450)	€(45,227)	€2,027	€(181,521)	€3	€(181,518)

	Business Unit BioNTech				External Services Business Unit
(in thousands)	Clinical	Technology Platform	Manufacturing	Business Service	Product Sales & External Services	Total	Adjustments	Group
Year ended December 31, 2018
Revenues
Collaboration Revenues	€36,750	€39,452	€25,635	-	-	€101,837		€101,837
Revenues from other sales transactions	-	6,783	-	42	18,914	25,738		25,738
Cost of sales	-	-	-	(40)	(13,358)	(13,398)	(292)	(13,690)
Gross profit	€36,750	€46,235	€25,635	€2	€5,556	€114,177	€(292)	€113,885
Income / Expenses
Research and development expenses	(48,641)	(60,320)	(31,508)	(1,979)	(884)	(143,332)	292	(143,040)
Sales and marketing expenses	-	-	-	(2,106)	(935)	(3,041)	-	(3,041)
General and administrative expenses	-	-	(2,558)	(21,233)	(2,542)	(26,334)	-	(26,334)
Other result	3,772	178	30	85	559	4,624	52	4,676
Segment operating income / (loss)	€(8,119)	€(13,908)	€(8,401)	€(25,231)	€1,753	€(53,906)	€52	€(53,854)

	Business Unit BioNTech				External Services Business Unit
(in thousands)	Clinical	Technology Platform	Manufacturing	Business Service	Product Sales & External Services	Total	Adjustments	Group
Year ended December 31, 2017
Revenues
Collaboration Revenues	€25,721	€14,504	€2,108	-	-	€42,333	-	€42,333
Revenues from other sales transactions	-	324	-	-	18,941	19,265	-	19,265
Cost of sales	-	-	-	-	(9,318)	(9,318)	-	(9,318)
Gross profit	€25,721	€14,828	€2,108	-	€9,623	€52,280	-	€52,280
Income / Expenses
Research and development expenses	(25,099)	(37,019)	(14,764)	(6,701)	(1,912)	(85,496)	-	(85,496)
Sales and marketing expenses	-	-	-	(4,904)	(1,698)	(6,603)	-	(6,603)
General and administrative expenses	-	-	(785)	(20,309)	(2,427)	(23,520)	-	(23,520)
Other result	-	777	-	820	463	2,061	-	2,061
Segment operating income / (loss)	€623	€(21,414)	€(13,441)	€(31,094)	€4,049	€(61,277)	-	€(61,277)

The segments are managed based on external sales and operating profit/loss, which represents the operating profit earned by each segment. Segment figures are reported consolidated, which reflects the way management steers the business.

BioNTech’s internal reporting is generally in accordance with IFRS and in line with the Group’s accounting policies, except for minor deviations in classification between cost of sales and research and development cost. Whenever revenues are attributable to different segments, these revenues are split based on the incurred cost. Internal overhead costs are allocated to segments based on revenues when they are directly attributable to a service rendered. Sales and marketing expenses, general and administrative expenses and the other result that are not directly attributable to one of the segments are allocated to Business Service.

To reconcile the segment figures to the Group’s financial statements for the year ended December 31, 2019, the presentation of k439 of research and development cost was adjusted (for the year ended December 31, 2018: k292).

Revenue at BioNTech can be differentiated between revenues resulting from collaboration and license agreements and revenues from other sales. The Company collaborates with reputable pharmaceutical and healthcare companies and several global academic collaborators. During the year ended December 31, 2019, the revenue generated from the Genentech and Pfizer collaboration agreements represent each more than 10% of BioNTech’s overall revenue resulting from collaboration and license agreements. The revenues were partly recorded in the Clinical as well as Manufacturing segment. During the year ended December 31, 2018, the revenue generated from the Genentech and Sanofi collaboration agreements represent each more than 10% of BioNTech’s overall revenue resulting from collaboration and license agreements. The revenues were partly recorded in the Clinical, Technology Platform as well as Manufacturing segment. During the year ended December 31, 2017, the revenue generated from the Genentech, Genmab and Sanofi collaboration agreements represent each more than 10% of BioNTech’s overall revenue resulting from collaboration and license agreements. The revenues were partly recorded in the Clinical, Technology Platform as well as Manufacturing segment. The total amounts of revenues generated with these customers in the periods presented are disclosed in Note 4.

Revenues from other sales result from the sale of medical products (e.g., peptides and retroviral vectors) for clinical supply. Research and development activities are managed on a worldwide basis but the operative manufacturing facilities and sales offices are located and managed in Germany. External sales are originated in Germany.

Related Party Disclosures

12 Months Ended

Dec. 31, 2019

Disclosure Of Transactions Between Related Parties [Abstract]

Related Party Disclosures

21	Related Party Disclosures

21.1	Parent and Ultimate Controlling Party

ATHOS KG, Holzkirchen, Germany owns 100% of shares in AT Impf GmbH, Munich, Germany and is the beneficiary owner of BioNTech. AT Impf GmbH, Munich, Germany is the parent company of the Group.

21.2	Transactions with Key Management Personnel

Key Management Personnel Compensation

Key management personnel at BioNTech has been defined as the members of the Management Board and of the Supervisory Board. Key management personnel compensation is comprised of the following:


Compensation of key management personnel of the Group
(in thousands)	December 31, 2019	December 31, 2018	December 31, 2017
Short-term employee benefits	€1,847	€1,161	€880
Share-based payment transactions	18,151	6,163	1,855
Total compensation paid to key management personnel	€19,998	€7,324	€2,735

In September 2019, BioNTech agreed to grant Prof. Ugur Sahin, M.D., BioNTech’s co-founder and Chief Executive Officer, an option to purchase 4,374,963 ordinary shares (see Note 17).

Executive officers also participate in the Group’s ESOP and SAR program (see Note 17).

Key Management Personnel Transactions

A number of key management personnel, or their related parties, hold positions in other companies that results in them having control or significant influence over these companies. A number of these companies have had transactions with the Group during the year.

The Group purchases various goods and services from research institutes where Prof. Ugur Sahin, M.D., our co-founder and Chief Executive Officer, co-founded TRON and served as Managing Director at TRON until 2019 and currently serves as a Professor of Medicine at the University of Mainz. Prof. Sahin resigned from this position with TRON, effective September 10, 2019. Additionally, Prof. Christoph Huber, M.D., a member of our Supervisory Board, served on TRON’s supervisory board until his resignation in April 2019. Prof. Ugur Sahin, M.D., our co-founder and Chief Executive Officer, owns a significant amount of shares in TRON.

The aggregate value of transactions related to key management personnel were as follows for the periods indicated:

(in thousands)	December 31, 2019	December 31, 2018	December 31, 2017
Consulting services / patent assignment	€56	€25	€25
Purchases of various goods and services from TRON	9,968	11,160	6,553
Total	€10,024	€11,185	€6,578

The outstanding balances of transactions related to key management personnel were as follows as at the periods indicated:

(in thousands)

December 31,

2019

December 31,

2018

TRON

€1,843

€2,160

Total

€1,843

€2,160

21.3	Other Related Party Transactions

The total amount of transactions with ATHOS KG or entities controlled by them was as follows for the periods indicated:

(in thousands)	December 31, 2019	December 31, 2018	December 31, 2017
Purchases of various goods and services from entities controlled by ATHOS KG	€2,071	€2,431	€1,240
Purchases of property and other assets from entities controlled by ATHOS KG	-	4,748	-
Total	€2,071	€7,179	€1,240

The outstanding balances of transactions with ATHOS KG or entities controlled by them were as follows as at the periods indicated:

(in thousands)

December 31,

2019

December 31,

2018

ATHOS KG

€51

€587

Total

€51

€587

None of the balances are secured and no bad debt expense has been recognized in respect of amounts owed by related parties.

Events After the Reporting Period

12 Months Ended

Dec. 31, 2019

Disclosure Of Events After Reporting Period [Abstract]

Events After the Reporting Period

22	Events After the Reporting Period

22.1

In December 2019, BioNTech Delivery Technologies GmbH (previously BioNTech Protein Therapeutics GmbH; also referred to as “BioNTech Delivery Technologies”), a wholly owned subsidiary of BioNTech SE, entered into an agreement to acquire all assets, employees and proprietary know-how of Lipocalyx GmbH and its related parties (also referred to as “Lipocalyx”) in exchange for a total consideration of cash at an amount of k€6,516 and additional contingent consideration provisionally estimated at an amount of k€572. Current assets and non-current assets before purchase price allocation accounted for in accordance with German GAAP at an amount of k€139 and k€77 (unaudited amounts) were acquired. No liabilities were assumed as part of this asset deal. The operational drug delivery business of Lipocalyx is based in Halle (Saale), Germany. The employees of Lipocalyx were transferred automatically to BioNTech Delivery Technologies with effect as of the closing date. The acquisition closed on January 6, 2020.

22.2

On January 12, 2020, BioNTech’s Supervisory Board appointed Ryan Richardson to the Management Board as Chief Strategy Officer (CSO) and Managing Director. In his new role he will support and contribute to the creation and implementation of the Company’s long-term growth strategy in collaboration with the management team. Ryan has previously served as Senior Vice President, Corporate Development & Strategy after joining the Company in 2018.

22.3

On January 16, 2020, BioNTech and Neon Therapeutics, Inc. (listed on the Nasdaq) have entered into a definitive merger agreement, under which BioNTech will acquire Neon in an all-stock transaction initially valued at approximately $67.0 million, based on the closing price of BioNTech’s ADSs of $34.55 on Wednesday, January 15, 2020 (also referred to as “Merger”). At closing, BioNTech will issue, and Neon shareholders will receive, 0.063 of BioNTech’s American Depositary Shares, or ADSs, in exchange for each of their shares of Neon. This exchange ratio will not be adjusted for changes in the market price of either our ADSs or Neon common stock between the date the Merger Agreement was signed and completion of the Merger. As a result, changes in the price of our ADSs prior to the completion of the Merger will affect the value of our ADSs delivered upon completion of the Merger. Neon is a biotechnology company developing novel neoantigen-based T cell therapies. The transaction will combine two organizations with a common culture of pioneering translational science and a shared vision for the future of cancer immunotherapy. The Merger is conditioned upon, among other things, the approval of the Merger Agreement by the shareholders of Neon and other customary closing conditions.

22.4

On March 16, 2020 BioNTech announced further details on the Company’s R&D effort, “Project Lightspeed”, to develop a potential vaccine to induce immunity and prevent COVID-19 infection in response to the growing global health threat posed by the disease. BioNTech’s product candidate, BNT162, is a potential first-in-class mRNA vaccine in the worldwide effort against COVID-19. BioNTech intends to initiate clinical testing for BNT162 in late April 2020, subject to regulatory approval, as part of a global clinical development program in Europe (commencing in Germany), the United States and China. The Company has been in close contact with regulatory and scientific authorities around the world and is in ongoing discussions with research organizations to make a vaccine available to the public as quickly as possible worldwide.

As part of its global development program, BioNTech announced a strategic alliance with Shanghai Fosun Pharmaceutical (Group) Co., Ltd (“Fosun Pharma”; Stock Symbol: 600196.SH, 02196.HK) to jointly develop its COVID-19 vaccine in China. Under the agreement, both companies will collaborate to conduct clinical trials in China, leveraging Fosun Pharma’s clinical development, regulatory, and commercial capabilities in the country. Upon regulatory approval, Fosun Pharma will commercialize the vaccine in China, while BioNTech retains the full rights to develop and commercialize the vaccine in the rest of the world. Fosun Pharma will pay BioNTech up to $135 million (€120 million) in upfront and potential future investment and milestone payments, including an equity investment of $50 million (€44 million) for 1,580,777 ordinary shares in BioNTech, subject to execution of share subscription documentation and approval from regulatory authorities in China. Future gross profits from the sale of the vaccine in China will be shared by the two companies.

On March 17, 2020 BioNTech and Pfizer Inc. (NYSE: PFE, “Pfizer”) announced that the companies have agreed to a letter of intent regarding the co-development and distribution (excluding China) of a potential mRNA-based coronavirus vaccine aimed at preventing COVID-19 infection. The companies have executed a Material Transfer and Collaboration Agreement to enable the parties to immediately start working together.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Basis of Preparation

2.1	Basis of Preparation

The consolidated financial statements have been prepared on a going concern basis in accordance with the IFRS as issued by the International Accounting Standards Board (IASB).

Basis of Consolidation

2.2	Basis of Consolidation

The consolidated financial statements comprise the financial statements of the Company and its controlled investees (subsidiaries).

The Group controls an investee if, and only if, the Group has

•

power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee);

•

exposure, or rights, to variable returns from its involvement with the investee; and

•

the ability to use its power over the investee to affect its returns.

Generally, there is a presumption that a majority of voting rights results in control.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

Business combinations and Goodwill

2.3.1

Business combinations and Goodwill

After initial recognition, goodwill is tested at least annually or when there is an indication for impairment. See Note 2.3.13.

Current versus Non-Current Classifications

2.3.2

Current versus Non-Current Classifications

Deferred tax assets and liabilities are classified as non-current assets and liabilities, respectively.

Fair Value Measurement

2.3.3

Fair Value Measurement

•

Level 1 contains the use of quoted prices in active markets for identical assets or liabilities.

•

Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly.

•

Level 3 inputs are unobservable.

Within this hierarchy, estimated values are made by management based on reasonable assumptions, including other fair value methods.

Revenue from Contracts with Customers

2.3.4Revenue from Contracts with Customers

Revenue Recognition

Revenue from Collaboration and License Agreements

Rendering of Services

Sale of Products

Contract Balances

Contract Assets

Trade Receivables

A receivable represents BioNTech’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due).

Contract Liabilities

Government Grants

2.3.5

Government Grants

Taxes

2.3.6

Taxes

Current Income Tax

Deferred Tax

Deferred tax liabilities are recognized for all taxable temporary differences, except:

•

Recognition of Taxes

Current and deferred tax items are recognized similar to the underlying transaction either in profit or loss, other comprehensive income or directly in equity.

Sales Tax

Expenses and assets are recognized net of sales tax, except when the sales tax incurred on a purchase of assets or services is not recoverable from the taxation authority.

The net amount of sales tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position.

Foreign Currencies

2.3.7

Foreign Currencies

Transactions and Balances

Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.

Foreign Currency Translation

Property, Plant and Equipment

2.3.8

Property, Plant and Equipment

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:

Property, plant and equipment

Useful life

(Years)

Buildings

7-33

Equipment, tools and installations

3-15

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

Leases

2.3.9

Leases

The Group early adopted IFRS 16 Leases for annual periods beginning on January 1, 2017.

•

the Group has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and

•

the Group has the right to operate the asset; or

•

the Group designed the asset in a way that predetermines how and for what purpose it will be used.

Lease payments included in the measurement of the lease liability comprise the following:

•

fixed payments, including in-substance fixed payments;

•

variable lease payments that depend on an index or a rate, initially measured using the index or rate as of the commencement date;

•

amounts expected to be payable under a residual value guarantee; and

•

The Group presents right-of-use assets separately and lease liabilities in ‘financial liabilities’ in the statement of financial position.

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets or shorter lease term, as follows:

Right-of-use assets		Useful life (Years)
Buildings		2-25
Equipment, tools and installations		2-5
Automobiles		3-4

Short-Term Leases and Leases of Low-Value Assets

Intangible Assets

2.3.10

Intangible Assets

The useful lives of intangible assets are assessed as either finite or indefinite.

A summary of the useful lives applied to the Group’s intangible assets is as follows:

Intangible assets

Useful life

(Years)

Intellectual property rights

10-20

Licenses

3-20

Research and Development Costs

•

the technical feasibility of completing the intangible asset so that the asset will be available for use or sale;

•

its intention to complete the project;

•

the ability and intention to use or sell the asset;

•

how the asset will generate future economic benefits;

•

the availability of resources to complete the asset; and

•

the ability to reliably measure the expenditure during development.

Financial Instruments – Initial Recognition and Subsequent Measurement

2.3.11

Financial Instruments – Initial Recognition and Subsequent Measurement

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

i) Financial Assets

Initial recognition and Measurement

Financial Assets at Amortized Cost (Debt Instruments)

The Group measures financial assets at amortized cost if both of the following conditions are met:

•

the financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows; and

•

the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Derecognition

Impairment of Financial Assets

ii) Financial Liabilities

Initial Recognition and Measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings or as payables.

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Group’s financial liabilities include trade payables and other financial liabilities.

Subsequent Measurement

The measurement of financial liabilities depends on their classification, as described below.

Financial Liabilities at Fair Value through Profit or Loss

The Group has no financial liabilities measured at fair value through profit or loss.

Loans, Borrowings, Trade Payables and Other Financial Liabilities

This category generally applies to interest-bearing loans and borrowings.

Derecognition

Inventories

2.3.12

Inventories

Inventories are valued at the lower of cost and net realizable value.

Costs incurred in bringing each product to its present location and condition are accounted for as follows:

•

raw materials and supplies: purchase cost on a first-in/first-out basis; or

•

unfinished goods and finished goods: cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacity, but excluding borrowing costs.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

Impairment of Non-Financial Assets

2.3.13

Impairment of Non-Financial Assets

Impairment losses of continuing operations are recognized in the statement of operations in expense categories consistent with the function of the impaired asset.

Cash and Cash Equivalents

2.3.14

Cash and Cash Equivalents

Cash and cash equivalents comprise cash in banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

Provisions

2.3.15

Provisions

Share-Based Payments

2.3.16

Share-Based Payments

Employees (and others providing similar services) receive remuneration in the form of share-based payments, which are settled in equity instruments (equity-settled transactions).

Equity-Settled Transactions

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model, further details of which are given in Note 17.

Standards applied for the First Time

2.4	Standards applied for the First Time

Standards/Interpretations		Date of application
IFRIC 23 Uncertainty over income tax treatment		January 1, 2019
Amendments to IFRS 9 Prepayment Features with Negative Compensation		January 1, 2019
Amendments to IAS 19 Plan Amendment, Curtailment or Settlement		January 1, 2019
Amendments to IAS 28 Long-term interests in associates and joint ventures		January 1, 2019
Annual improvement cycle to IFRS 2015-2017		January 1, 2019

Standard issued but not yet effective

2.5	Standard issued but not yet effective

Standards/Interpretations		Date of application
Amendments to IFRS 3 Business Combinations		January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform		January 1, 2020
Amendments to IAS 1 and IAS 8 Definition of Material		January 1, 2020
Amendments to References to the Conceptual Framework in IFRS Standards		January 1, 2020
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current		January 1, 2022

The Group does not expect a significant impact of the application of any of these amendments.

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Useful Lives Applied to the Group's Property, Plant and Equipment

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:

Property, plant and equipment

Useful life

(Years)

Buildings

7-33

Equipment, tools and installations

3-15

Useful Lives Applied to the Group's Right-of-use Assets

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets or shorter lease term, as follows:

Right-of-use assets		Useful life (Years)
Buildings		2-25
Equipment, tools and installations		2-5
Automobiles		3-4

Useful Lives Applied to the Group's Intangible Assets

A summary of the useful lives applied to the Group’s intangible assets is as follows:

Intangible assets

Useful life

(Years)

Intellectual property rights

10-20

Licenses

3-20

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Revenue From Contracts With Customers [Abstract]

Summary of Disaggregation of Revenue from Contracts with Customers

Set out below is the disaggregation of the Group’s revenue from contracts with customers:

	Years ended December 31,
(in thousands)	2019	2018	2017
Revenues resulting from collaboration and license agreements	€84,428	€101,837	€42,333
Genentech Inc.	64,026	49,536	27,829
Pfizer Inc.	14,348	7,174	-
Sanofi S.A.	4,233	41,712	5,665
Genmab A/S	-	2,740	6,765
Eli Lilly and Company	1,821	676	2,074
Revenues from other sales transactions	24,161	25,738	19,265
Total	€108,589	€127,575	€61,598

Summary of Transactions Resulting from Product Sales Included within Revenue from Other Sales Transactions

The transactions resulting from product sales that are included within the revenue from other sales transactions are as follows:

Years ended

December 31,

(in thousands)

2019

2018

2017

Product sales of JPT Peptide Technologies GmbH

€12,111

€10,748

€10,652

Summary of Contract Balances

(in thousands)

December 31,

2019

December 31,

2018

Trade receivables

€11,913

€18,938

Contract liabilities

190,692

271,674

Revenue Recognized from Payments of Past Periods

Set out below is the amount of revenue recognized for the periods indicated:

Years ended

December 31,

(in thousands)

2019

2018

2017

Amounts included in contract liabilities at the beginning of the year

€82,607

€65,068

€40,428

Summary of Deferred Revenue Allocated to Remaining Performance Obligations (Unsatisfied or Partially Unsatisfied)

The deferred revenue allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at year-end are as follows:

(in thousands)	December 31, 2019	December 31, 2018
Within one year	€90,453	€64,522
More than one year	97,109	205,647
Total	€187,562	€270,169

Group Information (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Significant Investments In Subsidiaries [Abstract]

Summary of Information about Subsidiaries

The consolidated financial statements of the Group include the following subsidiaries:

			% equity interest
Name	Country of incorporation	Registered office	December 31, 2019	December 31, 2018
BioNTech RNA Pharmaceuticals GmbH	Germany	Mainz	100%	100%
BioNTech Delivery Technologies GmbH (previously BioNTech Protein Therapeutics GmbH)	Germany	Halle (previously Mainz)	100%	100%
BioNTech Diagnostics GmbH	Germany	Mainz	100%	100%
BioNTech Small Molecules GmbH	Germany	Mainz	100%	100%
BioNTech IVAC GmbH (previously BioNTech Business Services GmbH)	Germany	Mainz	100%	100%
BioNTech Austria Beteiligungen GmbH	Austria	Vienna	100%	100%
BioNTech Innovative Manufacturing Services GmbH	Germany	Idar- Oberstein	100%	100%
reBOOST Management GmbH	Germany	Mainz	100%	n/a
JPT Peptide Technologies GmbH	Germany	Berlin	100%	100%
JPT Inc. (previously TheraCode JPT Inc.)	United States	Acton	100%	100%
BioNTech USA Holding LLC	United States	New York	100%	n/a
BioNTech Research and Development Inc.	United States	New York	100%	n/a
BioNTech Cell & Gene Therapies GmbH	Germany	Mainz	100%	94.50%
BioNTech Real Estate Holding GmbH (previously Apta IT GmbH)	Germany	Holzkirchen	100%	100%
BioNTech Real Estate Verwaltungs GmbH	Germany	Holzkirchen	100%	100%
BioNTech Real Estate GmbH & Co. KG	Germany	Holzkirchen	100%	100%

Summary of Information about Parent Company

Ownership of ordinary shares in BioNTech (in %)

Name

Country of incorporation

Registered office

December 31,

2019

December 31,

2018

AT Impf GmbH

Germany

Munich

50.33%

54.16%

Summary of Information about Entity with Significant Influence Over Group

Medine GmbH, Mainz owned the following percentage of ordinary shares in BioNTech at the following dates as indicated:

Ownership of ordinary shares in BioNTech (in %)

Name

Country of incorporation

Registered office

December 31,

2019

December 31,

2018

Medine GmbH

Germany

Mainz

18.38%

21.57%

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Business Combinations [Abstract]

Summary of Fair Values of Identifiable Net Assets of MAB Discovery

The fair values of the identifiable net assets of MAB Discovery as at the date of acquisition were:

	Fair value recognized on acquisition
(in thousands)	MAB Discovery GmbH
Assets
Goodwill	€2,205
Other intangible assets	2,711
Property, plant and equipment	999
Inventories	135
Total identifiable net assets at fair value	€6,050

	Cash flow on acquisition
(in thousands)	MAB Discovery GmbH

Net cash acquired	-
Cash paid	€6,050
Net cash flow on acquisition	€(6,050)

Income and Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Analysis Of Income And Expense [Abstract]

Cost of Sales

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€7,206	€6,726	€6,105
Laboratory supplies	3,845	1,368	2,849
Purchased services	1,986	2,514	-
Depreciation and amortization	1,467	1,367	-
Other	2,857	1,715	364
Total	€17,361	€13,690	€9,318

Research and Development Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€83,213	€45,668	€31,970
Purchased services	65,552	42,079	22,686
Laboratory supplies	37,218	22,921	15,762
Depreciation and amortization	27,533	18,312	9,859
Lease and lease related cost	2,527	2,404	3,475
IT costs	3,800	1,572	366
Travel costs	1,546	1,281	776
Transport costs	1,081	668	396
Job advertisement expenses	1,040	352	-
Other	2,956	7,783	206
Total	€226,466	€143,040	€85,496

Sales and Marketing Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€1,938	€1,728	€1,631
Purchased services	247	794	2,771
Travel costs	88	267	260
Other	445	252	1,940
Total	€2,718	€3,041	€6,603

General and Administrative Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Wages, benefits and social security expense	€19,122	€8,582	€9,861
Purchased services	6,419	5,177	3,544
IT and office equipment	4,573	3,774	2,706
Depreciation and amortization	4,855	2,284	630
Lease and lease related cost	1,715	1,012	1,611
Travel costs	1,391	1,043	247
Insurance premiums	1,061	145	99
Laboratory supplies	785	456	63
Job advertisement expenses	548	861	719
Other	5,078	3,000	4,039
Total	€45,547	€26,334	€23,520

Other Operating Income

	Years ended December 31,
(in thousands)	2019	2018	2017
Government grants	€1,547	€4,228	€2,266
Other	1,177	1,168	83
Total	€2,724	€5,396	€2,349

Finance Income

	Years ended December 31,
(in thousands)	2019	2018	2017
Interest income	€1,781	€1,996	€2,133
Foreign exchange gains (net)	2,341	6,050	-
Total	€4,122	€8,046	€2,133

Finance Expenses

	Years ended December 31,
(in thousands)	2019	2018	2017
Financial instruments measured at amortized cost	€326	€48	€53
Foreign exchange loss (net)	-	-	25,955
Total	€326	€48	€26,007

Income Tax (Tables)

12 Months Ended

Dec. 31, 2019

Major Components Of Tax Expense Income [Abstract]

Summary of Reconciliation of Tax Expense to Estimated Tax Rate

	Years ended December 31,
(in thousands)	2019	2018	2017
Loss before tax	€(179,440)	€(47,662)	€(85,905)

Expected tax benefit (based on BioNTech`s statutory tax rate of 30.78%, 2018: 30.99%, 2017: 30.86%)	55,240	14,776	26,517

Effects
Government grants exempted from taxes	48	28	17
Non-deductible expenses	(58)	(18)	(22)
Add-back for trade tax purposes	(110)	(96)	(70)
Non-recognition of tax-effect on share-based payment expenses	(9,308)	-	-
Tax-effective equity transaction costs	5,121	-	-
Utilization of tax losses	-	1,165	-
Non-recognition of deferred taxes on tax losses and temporary differences	(51,197)	(13,634)	(26,015)
Deviation valuation allowance prior year due to change tax rate	192	-	-
Effect from lower foreign income tax rate	(102)	-	-
Adjustment prior year tax	316	-	-
Other effects	154	(2,821)	(472)
Income tax expense	€296	€(600)	€(45)

Summary of Deferred Taxes

Deferred taxes for the periods indicated relate to the following:

Year ended December 31, 2019
(in thousands)	January 1, 2019	Recognized in P&L	December 31, 2019
Fixed assets	€(90)	€(565)	€(655)
Inventories	-	596	596
Leases	306	206	512
Contract liabilities (prior year revenues)	28,441	(4,898)	23,543
Provisions	134	53	187
Other (incl. deferred expenses)	161	1,926	2,087
Deferred Tax Assets Net (before valuation)	€28,951	€(2,681)	€26,270
Valuation Adjustment	(28,951)	2,681	(26,270)
Deferred Tax Assets Net (after valuation)	-	-	-

Year ended December 31, 2018
(in thousands)	January 1, 2018	Recognized in P&L	December 31, 2018
Fixed assets	€(877)	€787	€(90)
Inventories	83	(83)	-
Leases	83	223	306
Contract liabilities (prior year revenues)	16,631	11,810	28,441
Provisions	73	61	134
Other	684	(523)	161
Deferred Tax Assets Net (before valuation)	€16,676	€12,275	€28,951
Valuation Adjustment	(16,676)	(12,275)	(28,951)
Deferred Tax Assets Net (after valuation)	-	-	-

Summary of Accumulated Tax Losses

Accumulated tax losses of the Group for the periods indicated amount to the following:

	Years ended December 31,
(in thousands)	2019	2018	2017
Corporate Tax	€356,044	€179,264	€178,491
Trade Tax	352,341	176,425	176,024

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Summary of Income and Share Data Used in the Basic and Diluted EPS Calculations

The following table reflects the income and share data used in the basic and diluted EPS calculations:

	Years ended December 31,
(in thousands)	2019	2018	2017
Loss attributable to ordinary equity holders of the parent for basic earnings	€(179,056)	€(48,019)	€(85,653)

Weighted average number of ordinary shares for basic EPS	211,499	190,710	166,764
Effects of dilution from share options	-	-	-
Weighted average number of ordinary shares adjusted for the effect of dilution	211,499	190,710	166,764

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Property Plant And Equipment [Abstract]

Summary of Property Plant and Equipment

(in thousands)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Acquisition and production costs	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
As of January 1, 2018	€13,077	€58,080	€6,153	€77,310
Additions	8,925	11,322	6,154	26,401
Disposals	-	(858)	-	(858)
Reclassifications	145	5,069	(5,216)	-
As of December 31, 2018	€22,147	€73,613	€7,091	€102,853
As of January 1, 2019	€22,147	€73,613	€7,091	€102,853
Additions	7,269	8,700	22,623	38,592
Disposals	-	(105)	(10)	(115)
Reclassifications	53	-	(53)	-
Currency differences	-	(1)	1	-
Acquisition of subsidiaries and businesses, net of cash acquired	-	999	-	999
As of December 31, 2019	€29,469	€83,206	€29,652	€142,329

(in thousands)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Cumulative depreciation and impairment charges	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
As of January 1, 2018	€5,690	€22,013	-	€27,703
Depreciation	782	8,349	-	9,131
Disposals	-	(182)	-	(182)
As of December 31, 2018	€6,472	€30,180	-	€36,652
As of January 1, 2019	€6,472	€30,180	-	€36,652
Depreciation	1,854	10,861	-	12,715
Disposals	-	(79)	-	(79)
Currency differences	-	(3)	-	(3)
As of December 31, 2019	€8,326	€40,959	-	€49,285

(in thousands)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Carrying amount	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
As of January 1, 2018	€7,387	€36,067	€6,153	€49,606
As of December 31, 2018	€15,675	€43,433	€7,091	€66,200
As of December 31, 2019	€21,143	€42,247	€29,652	€93,044

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Intangible Assets [Abstract]

Summary of Detailed Information About Intangible Assets

(in thousands)	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
Acquisition costs	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
As of January 1, 2018	€534	€85,271	€3,565	€89,370
Additions	-	12,150	3,128	15,278
Disposals	-	-	(765)	(765)
Reclassifications	-	4,431	(4,431)	-
As of December 31, 2018	€534	€101,853	€1,497	€103,883
As of January 1, 2019	€534	€101,853	€1,497	€103,883
Additions	-	11,744	1,529	13,273
Disposals	-	(133)	(477)	(610)
Reclassifications	-	146	(146)	-
Currency differences	-	(23)	-	(23)
Acquisition of subsidiaries and businesses, net of cash acquired	2,444	2,726	-	5,170
As of December 31, 2019	€2,978	€116,313	€2,403	€121,693

(in thousands)	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
Cumulative depreciation and impairment charges	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
As of January 1, 2018	-	€5,833	-	€5,833
Depreciation	-	10,009	-	10,009
As of December 31, 2018	-	€15,842	-	€15,842
As of January 1, 2019	-	€15,842	-	€15,842
Depreciation	-	16,502	-	16,502
Disposals	-	(81)	-	(81)
Currency differences	-	(3)	-	(3)
As of December 31, 2019	-	€32,260	-	€32,260

(in thousands)	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
Carrying amount	Goodwill	Concessions, licenses and similar rights	Advance payments	Total
As of January 1, 2018	€534	€79,438	€3,565	€83,537
As of December 31, 2018	€534	€86,011	€1,497	€88,042
As of December 31, 2019	€2,978	€84,053	€2,403	€89,434

Summary of Goodwill Recognized

The goodwill acquired in the respective business combinations for the dates indicated is presented in the following table:

	MAB Discovery		JPT Peptide Technologies		reBOOST		Total
(in thousands)	As of December 31, 2019	As of December 31, 2018	As of December 31, 2019	As of December 31, 2018	As of December 31, 2019	As of December 31, 2018	As of December 31, 2019	As of December 31, 2018
Goodwill	€2,205	-	€534	€534	€239	-	€2,978	€534

Financial Assets and Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Financial Instruments [Abstract]

Summary of Cash and Cash Equivalents

(in thousands)

December 31,

2019

December 31,

2018

Cash and cash equivalents at banks and on hand

€519,149

€411,495

Total

€519,149

€411,495

Summary of Financial Assets at Amortized Cost

(in thousands)	December 31, 2019	December 31, 2018
Trade receivables	€11,913	€18,938
Other financial assets and receivables	1,680	354
Total	€13,593	€19,292
Total current	13,593	19,273
Total non-current	-	18

Summary of Financial Liabilities at Amortized Cost

(in thousands)	Maturity	December 31, 2019	December 31, 2018
Trade payables		€19,909	€41,721
Lease liabilities		56,683	50,752
2.15% € 10,000,000 secured bank loan	12/30/2027	9,000	4,000
2.08% € 9,450,000 secured bank loan	09/30/2028	7,600	1,600
Other financial liabilities		11,551	6,132
Total		€104,743	€104,205
Total current		35,699	49,987
Total non-current		69,044	54,218

Summary of Carrying Amount of Monetary Assets

The carrying amount of the monetary assets (the Group’s cash and cash equivalents) of BioNTech denominated in foreign currencies at the dates indicated are as follows:

(in thousands)

December 31,

2019

December 31,

2018

USD Bank accounts

€213,913

€176,376

Total

€213,913

€176,376

Summary of Effect of Changes in Foreign Exchange Rates

	1 € =	Closing rate		Average rate
Currency	Country	2019	2018	2019	2018
USD	United States	1.1234	1.1450	1.1195	1.1810

(in thousands)	Change in USD rate	Effect on loss before tax	Effect on pre-tax equity
2019	+5 %	€(10,186)	€(10,186)
2019	-5%	€11,259	€11,259
2018	+5 %	€(8,399)	€(8,399)
2018	-5%	€9,283	€9,283

Summary of Maturity Profile of Financial Liabilities Based on Contractual Undiscounted Payments

The maturity profile of the Group’s financial liabilities based on contractual undiscounted payments is summarized as follows:

Year ended December 31, 2019
(in thousands)	Less than 1 year	1 to 5 years	More than 5 years	Total
Interest bearing loans and borrowings	€2,220	€10,693	€8,355	€21,268
Trade and other payables	€20,498	-	-	€20,498
Lease liabilities	€5,176	€17,882	€55,852	€78,910
Other financial liabilities	€10,351	-	-	€10,351
Total	€38,245	€28,575	€64,207	€131,027

Year ended December 31, 2018
(in thousands)	Less than 1 year	1 to 5 years	More than 5 years	Total
Interest bearing loans and borrowings	-	€5,600	-	€5,600
Trade and other payables	41,721	-	-	41,721
Lease liabilities	3,822	13,346	56,524	73,692
Other financial liabilities	6,132	-	-	6,132
Total	€51,675	€18,946	€56,524	€127,145

Summary of Changes in Liabilities Arising From Financing Activities

Year ended December 31, 2019
(in thousands)	January 1, 2019	Cash flows	New leases and disposals	Reclassification	December 31, 2019
Current obligations under lease contracts	€2,134	€(3,061)	€1,484	€2,928	€3,485
Non-current obligations under lease contracts	48,618	-	8,437	(2,928)	54,127
Interest-bearing loans and borrowings	5,600	11,000	-	-	16,600
Total	€56,352	€7,939	€9,921	-	€74,212

Year ended December 31, 2018
(in thousands)	January 1, 2018	Cash flows	New leases and disposals	Reclassification	December 31, 2018
Current obligations under lease contracts	€1,832	€(2,126)	€296	€2,132	€2,134
Non-current obligations under lease contracts	50,349	-	401	(2,132)	48,618
Interest-bearing loans and borrowings	-	5,600	-	-	5,600
Total	€52,182	€3,474	€697	-	€56,352

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Classes Of Inventories [Abstract]

Summary of Inventories

(in thousands)	December 31, 2019	December 31, 2018
Raw materials and supplies	€8,201	€4,475
Unfinished goods	2,888	80
Finished goods	633	1,234
Total	€11,722	€5,789

Trade Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Trade And Other Receivables [Abstract]

Summary of Trade Receivables

(in thousands)

December 31,

2019

December 31,

2018

Trade receivables

€11,913

€18,938

Total

€11,913

€18,938

Other Assets (Tables)

12 Months Ended

Dec. 31, 2019

Miscellaneous Current Assets [Abstract]

Summary of Other Assets

(in thousands)	December 31, 2019	December 31, 2018
Sales tax receivable	€7,536	€8,611
Prepayments on inventories	351	155
Other	1,182	398
Total	€9,069	€9,164

Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2019

Chief Executive Officer Grant

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Inputs Used in Measurement of Fair Value at Grant Date

The inputs used in the measurement of the fair value at grant date of the Chief Executive Officer Grant were as follows:


		Grant date October 10, 2019
Weighted average fair value		€5.63
Weighted average share price		€13.60
Exercise price		€13.60
Expected volatility (%)		41.4%
Expected life (years)		5.37
Risk-free interest rate (%)		1.52 %

Schedule of Number and Weighted-Average Exercise Price of Share Options

The number and weighted-average exercise price of share options under the Chief Executive Officer Grant during the year ended December 31, 2019 were as follows:

	Share options outstanding	Number of Ordinary Shares underlying options	Weighted average exercise price (€)
As of January 1, 2019	-	-	-
Granted	4,374,963	4,374,963	13.60
As of December 31, 2019	4,374,963	4,374,963	13.60

Schedule of Expense Recognized for Employee Services Received

The expense recognized for employee services received during the year ended December 31, 2019 is shown in the following table:

		Year ended December 31,
(in thousands)		2019
Research and development expenses		€3,208
Total		€3,208

Employee Stock Ownership Plan

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Inputs Used in Measurement of Fair Value at Grant Date

The inputs used in the measurement of the fair values at grant date of the ESOP was as follows:

	Grant date 15 November 2018	Grant dates between February 21 - April 3, 2019	Grant dates between April 29 - May 31, 2019	Grant date December 1, 2019
Weighted average fair value	€7.41	€6.93	€7.04	€9.49
Weighted average share price	€14.40	€15.72	€16.03	€19.84
Exercise price	€10.14	€15.03	€15.39	€15.82
Expected volatility (%)	46.0%	46.0%	46.0%	46.0%
Expected life (years)	5.84	6.00	6.00	5.50
Risk-free interest rate (%)	0.05%	0.05%	0.05%	0.05%

Schedule of Number and Weighted-Average Exercise Price of Share Options

The number and weighted-average exercise prices of share options under the ESOP during the years ended December 31, 2019 and December 31, 2018 were as follows:

	Share options outstanding	Number of Ordinary Shares underlying options	Weighted average exercise price (€)
As of January 1, 2018	-	-	-
Granted	658,109	11,845,962	10.14
As of December 31, 2018	658,109	11,845,962	10.14
As of January 1, 2019	658,109	11,845,962	10.14
Granted	14,511	261,198	15.17
Forfeited	(17,237)	(310,266)	10.85
As of December 31, 2019	655,383	11,796,894	10.23

Schedule of Expense Recognized for Employee Services Received

The expense recognized for employee services received during the years ended December 31, 2019 and December 31, 2018 is shown in the following table:

	Years ended December 31,
(in thousands)	2019	2018
Cost of sales	€896	€114
Research and development expenses	20,016	6,786
Sales and marketing expenses	108	13
General and administrative expenses	6,008	728
Total	€27,028	€7,641

The expense recognized for employee services received during the year ended December 31, 2017 is shown in the following table:

	Year ended December 31,
(in thousands)	2017
Cost of sales	-
Research and development expenses	3,620
Sales and marketing expenses	14
General and administrative expenses	2,275
Total	€5,909

Share Appreciation Right

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]

Summary of Inputs Used in Measurement of Fair Value at Grant Date

The inputs used in the measurement of the fair values at grant date of the SARs were as follows:

		Grant date 1 December 2017
Fair value		10.13€
Exercise price		10.13€
WACC		8.2%
Tax rate		31.2%
Debt free net working capital (in % of sales)		5.5%
Risk-free interest rate (%)		1.2%
Long-term growth rate (%)		1.8%

Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Miscellaneous Current Liabilities [Abstract]

Summary of Other Liabilities

(in thousands)	December 31, 2019	December 31, 2018
Liabilities employees	€6,710	€5,236
Other	780	3,864
Total	€7,490	€9,100

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Presentation Of Leases For Lessee [Abstract]

Summary of Right-of-Use Assets within Statement of Financial Positions

The following amounts are presented as right-of-use assets within the statement of financial positions as of the dates indicated:

	December 31, 2019	December 31, 2018
Buildings	€54,956	€49,718
Equipment, tools and installations	7	21
Automobiles	55	27
Total	€55,018	€49,766

Summary of Other Financial Liabilities

The following amounts are included in other financial liabilities as of the dates indicated:

(in thousands)	December 31, 2019	December 31, 2018
Current	€3,485	€2,134
Non-current	54,127	48,618
Total	€57,612	€50,752

Summary of Amounts Recognized in Consolidated Statement of Operations

	Years ended December 31,
(in thousands)	2019	2018	2017
Buildings	€4,614	€2,751	€1,759
Equipment, tools and installations	25	60	111
Automobiles	40	35	39
Total depreciation charge	€4,679	€2,846	€1,909

Interest on lease liabilities	€1,718	€1,721	€676
Expense related to short-term leases (included in other expenses)	442	431	442
Expense relating to leases of low-value assets that are not short-term leases (included in other expenses)	90	90	95
Total amounts recognized in profit or loss	€6,929	€5,088	€3,122

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Operating Segments [Abstract]

Reconciliation of Segment Figures to Group Figure

The table below reconciles segment figures to Group figures for the periods indicated:

	Business Unit BioNTech				External Services Business Unit
(in thousands)	Clinical	Technology Platform	Manufacturing	Business Service	Product Sales & External Services	Total	Adjustments	Group
Year ended December 31, 2019
Revenues
Collaboration Revenues	€33,493	€2,147	€48,788	-	-	€84,428		€84,428
Revenues from other sales transactions	-	692	2	-	23,467	24,161		24,161
Cost of sales	-	-	-	-	(16,923)	(16,923)	(438)	(17,361)
Gross profit	€33,493	€2,839	€48,790	-	€6,544	€91,666	€(438)	€91,228
Income / Expenses
Research and development expenses	(91,516)	(79,119)	(50,478)	(5,192)	(600)	(226,905)	439	(226,466)
Sales and marketing expenses	-	-	-	(1,302)	(1,415)	(2,717)	(1)	(2,718)
General and administrative expenses	-	-	(3,821)	(38,756)	(2,970)	(45,547)	-	(45,547)
Other result	1,125	307	59	23	468	1,982	3	1,985
Segment operating income / (loss)	€(56,898)	€(75,973)	€(5,450)	€(45,227)	€2,027	€(181,521)	€3	€(181,518)

	Business Unit BioNTech				External Services Business Unit
(in thousands)	Clinical	Technology Platform	Manufacturing	Business Service	Product Sales & External Services	Total	Adjustments	Group
Year ended December 31, 2018
Revenues
Collaboration Revenues	€36,750	€39,452	€25,635	-	-	€101,837		€101,837
Revenues from other sales transactions	-	6,783	-	42	18,914	25,738		25,738
Cost of sales	-	-	-	(40)	(13,358)	(13,398)	(292)	(13,690)
Gross profit	€36,750	€46,235	€25,635	€2	€5,556	€114,177	€(292)	€113,885
Income / Expenses
Research and development expenses	(48,641)	(60,320)	(31,508)	(1,979)	(884)	(143,332)	292	(143,040)
Sales and marketing expenses	-	-	-	(2,106)	(935)	(3,041)	-	(3,041)
General and administrative expenses	-	-	(2,558)	(21,233)	(2,542)	(26,334)	-	(26,334)
Other result	3,772	178	30	85	559	4,624	52	4,676
Segment operating income / (loss)	€(8,119)	€(13,908)	€(8,401)	€(25,231)	€1,753	€(53,906)	€52	€(53,854)

	Business Unit BioNTech				External Services Business Unit
(in thousands)	Clinical	Technology Platform	Manufacturing	Business Service	Product Sales & External Services	Total	Adjustments	Group
Year ended December 31, 2017
Revenues
Collaboration Revenues	€25,721	€14,504	€2,108	-	-	€42,333	-	€42,333
Revenues from other sales transactions	-	324	-	-	18,941	19,265	-	19,265
Cost of sales	-	-	-	-	(9,318)	(9,318)	-	(9,318)
Gross profit	€25,721	€14,828	€2,108	-	€9,623	€52,280	-	€52,280
Income / Expenses
Research and development expenses	(25,099)	(37,019)	(14,764)	(6,701)	(1,912)	(85,496)	-	(85,496)
Sales and marketing expenses	-	-	-	(4,904)	(1,698)	(6,603)	-	(6,603)
General and administrative expenses	-	-	(785)	(20,309)	(2,427)	(23,520)	-	(23,520)
Other result	-	777	-	820	463	2,061	-	2,061
Segment operating income / (loss)	€623	€(21,414)	€(13,441)	€(31,094)	€4,049	€(61,277)	-	€(61,277)

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Transactions Between Related Parties [Abstract]

Summary of Compensation of Key Management Personnel

Key management personnel compensation is comprised of the following:


Compensation of key management personnel of the Group
(in thousands)	December 31, 2019	December 31, 2018	December 31, 2017
Short-term employee benefits	€1,847	€1,161	€880
Share-based payment transactions	18,151	6,163	1,855
Total compensation paid to key management personnel	€19,998	€7,324	€2,735

The aggregate value of transactions related to key management personnel were as follows for the periods indicated:

(in thousands)	December 31, 2019	December 31, 2018	December 31, 2017
Consulting services / patent assignment	€56	€25	€25
Purchases of various goods and services from TRON	9,968	11,160	6,553
Total	€10,024	€11,185	€6,578

The outstanding balances of transactions related to key management personnel were as follows as at the periods indicated:

(in thousands)

December 31,

2019

December 31,

2018

TRON

€1,843

€2,160

Total

€1,843

€2,160

Summary of Transactions Between Other Related Parties

The total amount of transactions with ATHOS KG or entities controlled by them was as follows for the periods indicated:

(in thousands)	December 31, 2019	December 31, 2018	December 31, 2017
Purchases of various goods and services from entities controlled by ATHOS KG	€2,071	€2,431	€1,240
Purchases of property and other assets from entities controlled by ATHOS KG	-	4,748	-
Total	€2,071	€7,179	€1,240

The outstanding balances of transactions with ATHOS KG or entities controlled by them were as follows as at the periods indicated:

(in thousands)

December 31,

2019

December 31,

2018

ATHOS KG

€51

€587

Total

€51

€587

Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019 EUR (€)
Disclosure Of Summary Of Significant Accounting Policies [Abstract]
Payment terms in contracts with customers	Payments from customers are due within 20 days (Europe) or 30 days (non-Europe) after invoice.
Financial liabilities measured at fair value through profit or loss	€ 0

Significant Accounting Policies - Useful Lives Applied to the Group's Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2019
Buildings \| Minimum
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life (Years)	7 years
Buildings \| Maximum
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life (Years)	33 years
Equipment, Tools and Installations \| Minimum
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life (Years)	3 years
Equipment, Tools and Installations \| Maximum
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life (Years)	15 years

Significant Accounting Policies - Useful Lives Applied to the Group's Right-of-use Assets (Details)	12 Months Ended
	Dec. 31, 2019
Minimum \| Buildings
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	2 years
Minimum \| Equipment, Tools and Installations
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	2 years
Minimum \| Automobiles
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	3 years
Maximum \| Buildings
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	25 years
Maximum \| Equipment, Tools and Installations
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	5 years
Maximum \| Automobiles
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	4 years

Significant Accounting Policies - Useful Lives Applied to the Group's Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2019
Minimum \| Intellectual Property Rights
Disclosure Of Intangible Assets [Line Items]
Intangible assets, Useful life (Years)	10 years
Minimum \| Licenses
Disclosure Of Intangible Assets [Line Items]
Intangible assets, Useful life (Years)	3 years
Maximum \| Intellectual Property Rights
Disclosure Of Intangible Assets [Line Items]
Intangible assets, Useful life (Years)	20 years
Maximum \| Licenses
Disclosure Of Intangible Assets [Line Items]
Intangible assets, Useful life (Years)	20 years

Revenue from Contracts with Customers - Summary of Disaggregation of Revenue from Contracts with Customers (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 108,589	€ 127,575	€ 61,598
Collaboration and License Agreement
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	84,428	101,837	42,333
Collaboration and License Agreement \| Genentech Inc.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	64,026	49,536	27,829
Collaboration and License Agreement \| Pfizer Inc.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	14,348	7,174
Collaboration and License Agreement \| Sanofi S.A.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	4,233	41,712	5,665
Collaboration and License Agreement \| Genmab A/S
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers		2,740	6,765
Collaboration and License Agreement \| Eli Lilly and Company
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	1,821	676	2,074
Other Sales Transactions
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 24,161	€ 25,738	€ 19,265

Revenue from Contracts with Customers - Additional Information (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 108,589,000	€ 127,575,000	€ 61,598,000
Contract liabilities	190,692,000	271,674,000
Deferred revenue recognized included in contract liabilities	€ 82,607,000	65,068,000	40,428,000
Description of when entity typically satisfies performance obligations	BioNTech accounts for its promises to grant licenses as performance obligations satisfied over time as the customers simultaneously receive and consume the benefit of BioNTech’s performance of providing access to its intellectual property as the performance occurs. BioNTech recognizes revenue over time by measuring the progress toward complete satisfaction of that performance obligation according to the method that demonstrates BioNTech’s performance towards complete satisfaction. In contracts in which the costs vary based on the stage of research, an input-based measure considering cost incurred depicts most reliably the progress of the related research activities. In other contracts, revenue recognition on a straight-line basis most reliably depicts BioNTech’s performance toward complete satisfaction. In case the contractual activities progress, the achievement of development milestones will be used to measure the progress toward complete satisfaction.
Description of deferred revenue allocated to the remaining performance obligations	The deferred revenue allocated to the remaining performance obligations does not contain deferred revenues of performance obligations which are part of contracts that have an original expected duration of one year or less or of performance obligations for which the consideration from the customer corresponds directly to the value to the customer of BioNTech’s performance to date at an amount of k€3,130 (December 31, 2018: k€1,505).
Deferred revenue allocated to the remaining performance obligations	€ 3,130,000	€ 1,505,000
Minimum
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Trade receivable maturity period	20 days
Maximum
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Trade receivable maturity period	30 days
Sanofi S.A.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Percentage of reimbursement of sublicense costs		50.00%
Sublicense agreement date		Dec. 22, 2018
Sanofi S.A. \| Cellscript Sublicense
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers		€ 33,177,000
Collaboration and License Agreement
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 84,428,000	101,837,000	42,333,000
Upfront fees or unconditional right of consideration from collaboration and license agreements	0	41,120,000
Deferred revenue recognized included in contract liabilities	82,607,000	65,068,000
Collaboration and License Agreement \| Genentech Inc.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Payments from customers	279,542,000
Revenues from contracts with customers	64,026,000	49,536,000	27,829,000
Contract liabilities	131,556,000	195,582,000
Collaboration and License Agreement \| Sanofi S.A.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Payments from customers	59,560,000
Revenues from contracts with customers	4,233,000	41,712,000	5,665,000
Contract liabilities	34,483,000	38,716,000
Collaboration and License Agreement \| Pfizer Inc.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Payments from customers	43,044,000
Revenues from contracts with customers	14,348,000	7,174,000
Contract liabilities	21,522,000	35,870,000
Collaboration and License Agreement \| Eli Lilly and Company
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	1,821,000	676,000	2,074,000
Collaboration Agreement \| Sanofi S.A.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	4,233,000	€ 8,535,000	€ 5,665,000
Bill and Hold Transaction
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 1,059,000

Revenue from Contracts with Customers - Summary of Transactions Resulting from Product Sales Included within Revenue from Other Sales Transactions (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Product sales of JPT Peptide Technologies GmbH	€ 108,589	€ 127,575	€ 61,598
Other Sales Transactions
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Product sales of JPT Peptide Technologies GmbH	24,161	25,738	19,265
Other Sales Transactions \| JPT Peptide Technologies GmbH
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Product sales of JPT Peptide Technologies GmbH	€ 12,111	€ 10,748	€ 10,652

Revenue from Contracts with Customers - Summary of Contract Balances (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Trade receivables	€ 11,913	€ 18,938
Contract liabilities	€ 190,692	€ 271,674

Revenue from Contracts with Customers - Summary of Revenue Recognized (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Revenue From Contracts With Customers [Abstract]
Amounts included in contract liabilities at the beginning of the year	€ 82,607	€ 65,068	€ 40,428

Revenue from Contracts with Customers - Summary of Deferred Revenue Allocated to Remaining Performance Obligations (Unsatisfied or Partially Unsatisfied) (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	€ 190,692	€ 271,674
Unsatisfied Or Partially Unsatisfied
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	187,562	270,169
Within One Year \| Unsatisfied Or Partially Unsatisfied
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	90,453	64,522
More Than One Year \| Unsatisfied Or Partially Unsatisfied
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	€ 97,109	€ 205,647

Group Information - Summary of Information about Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
BioNTech RNA Pharmaceuticals GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	100.00%
BioNTech Delivery Technologies GmbH (previously BioNTech Protein Therapeutics GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Halle (previously Mainz)
% equity interest	100.00%	100.00%
BioNTech Diagnostics GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	100.00%
BioNTech Small Molecules GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	100.00%
BioNTech IVAC GmbH (previously BioNTech Business Services GmbH)
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	100.00%
BioNTech Austria Beteiligungen GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Austria
Registered office	Vienna
% equity interest	100.00%	100.00%
BioNTech Innovative Manufacturing Services GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Idar- Oberstein
% equity interest	100.00%	100.00%
reBOOST Management GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%
JPT Peptide Technologies GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Berlin
% equity interest	100.00%	100.00%
JPT Inc. (previously TheraCode JPT Inc.)
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United States
Registered office	Acton
% equity interest	100.00%	100.00%
BioNTech USA Holding LLC
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United States
Registered office	New York
% equity interest	100.00%
BioNTech Research and Development Inc.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United States
Registered office	New York
% equity interest	100.00%
BioNTech Cell & Gene Therapies GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	94.50%
BioNTech Real Estate Holding GmbH (Previously Apta IT GmbH)
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Holzkirchen
% equity interest	100.00%	100.00%
BioNTech Real Estate Verwaltungs GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Holzkirchen
% equity interest	100.00%	100.00%
BioNTech Real Estate GmbH & Co. KG
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Holzkirchen
% equity interest	100.00%	100.00%

Group Information - Additional Information (Details)	12 Months Ended
Group Information - Additional Information (Details)	Dec. 31, 2019 Entity
AT Impf GmbH \| ATHOS KG
Disclosure Of Significant Investments In Subsidiaries [Line Items]
% equity interest	100.00%
BioNTech USA Holding, LLC and BioNTech Research & Development, Inc. \| reBOOST Management GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Number of entities	3

Group Information - Summary of Information about Parent Company (Details) - BioNTech - AT Impf GmbH	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Munich
Ownership of ordinary shares in BioNTech	50.33%	54.16%

Group Information - Summary of Information about Entity with Significant Influence Over Group (Details) - BioNTech - Medine GmbH	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
Ownership of ordinary shares in BioNTech	18.38%	21.57%

Business Combinations - Additional Information (Details) - EUR (€)		1 Months Ended	4 Months Ended	9 Months Ended	12 Months Ended
	Aug. 29, 2019	Jan. 31, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Apr. 01, 2019
Disclosure Of Business Combinations [Line Items]
Loss before tax					€ 179,440,000	€ 47,662,000	€ 85,905,000
Revenues					€ 108,589,000	€ 127,575,000	€ 61,598,000
MAB Discovery GmbH
Disclosure Of Business Combinations [Line Items]
Name of acquiree					MAB Discovery GmbH
Total consideration		€ 6,050,000						€ 6,050,000
Date of acquisition		Apr. 01, 2019
Revenues				€ 0
Transaction costs					€ 91,000
MAB Discovery GmbH \| ProForma
Disclosure Of Business Combinations [Line Items]
Revenues					0
MAB Discovery GmbH \| Technology Platform Business Segment
Disclosure Of Business Combinations [Line Items]
Loss before tax				€ 4,299,000
MAB Discovery GmbH \| Technology Platform Business Segment \| ProForma
Disclosure Of Business Combinations [Line Items]
Loss before tax					€ 5,232,000
reBOOST Management GmbH
Disclosure Of Business Combinations [Line Items]
Name of acquiree					reBOOST Management GmbH
Total consideration	€ 279,000
Date of acquisition	Sep. 02, 2019
Revenues			€ 0
Cash consideration	€ 31,000
Assumption of liabilities	€ 248,000
reBOOST Management GmbH \| ProForma
Disclosure Of Business Combinations [Line Items]
Revenues					€ 0
reBOOST Management GmbH \| Technology Platform Business Segment
Disclosure Of Business Combinations [Line Items]
Loss before tax			€ 213,000
reBOOST Management GmbH \| Technology Platform Business Segment \| ProForma
Disclosure Of Business Combinations [Line Items]
Loss before tax					€ 237,000

Business Combinations - Summary of Fair Values of Identifiable Net Assets of MAB Discovery (Details) - EUR (€) € in Thousands		12 Months Ended
	Apr. 01, 2019	Dec. 31, 2019	Jan. 31, 2019
Assets
Net cash flow on acquisition		€ (6,056)
MAB Discovery GmbH
Assets
Goodwill	€ 2,205
Other intangible assets	2,711
Property, plant and equipment	999
Inventories	135
Total identifiable net assets at fair value	6,050		€ 6,050
Cash paid	6,050
Net cash flow on acquisition	€ (6,050)

Income and Expenses - Cost of Sales (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Income And Expenses [Line Items]
Costs of sales	€ 17,361	€ 13,690	€ 9,318
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
Costs of sales	7,206	6,726	6,105
Laboratory Supplies
Disclosure Of Income And Expenses [Line Items]
Costs of sales	3,845	1,368	2,849
Purchased Services
Disclosure Of Income And Expenses [Line Items]
Costs of sales	1,986	2,514
Other
Disclosure Of Income And Expenses [Line Items]
Costs of sales	2,857	1,715	€ 364
Depreciation and Amortization
Disclosure Of Income And Expenses [Line Items]
Costs of sales	€ 1,467	€ 1,367

Income and Expenses - Research and Development Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	€ 226,466	€ 143,040	€ 85,496
Depreciation and Amortization
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	27,533	18,312	9,859
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	83,213	45,668	31,970
Laboratory Supplies
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	37,218	22,921	15,762
Purchased Services
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	65,552	42,079	22,686
Lease and Lease Related Cost
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	2,527	2,404	3,475
Other
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	2,956	7,783	206
IT Costs
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	3,800	1,572	366
Travel Costs
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	1,546	1,281	776
Transport Costs
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	1,081	668	€ 396
Job Advertisement Expenses
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	€ 1,040	€ 352

Income and Expenses - Sales and Marketing Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	€ 2,718	€ 3,041	€ 6,603
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	1,938	1,728	1,631
Purchased Services
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	247	794	2,771
Travel Costs
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	88	267	260
Other
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	€ 445	€ 252	€ 1,940

Income and Expenses - General and Administrative Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	€ 45,547	€ 26,334	€ 23,520
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	19,122	8,582	9,861
Purchased Services
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	6,419	5,177	3,544
Lease and Lease Related Cost
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	1,715	1,012	1,611
Other
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	5,078	3,000	4,039
Travel Costs
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	1,391	1,043	247
Insurance Premiums
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	1,061	145	99
Laboratory Supplies
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	785	456	63
Job Advertisement Expenses
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	548	861	719
IT and Office Equipment
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	4,573	3,774	2,706
Depreciation and Amortization
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	€ 4,855	€ 2,284	€ 630

Income and Expenses - Other Operating Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Income And Expenses [Line Items]
Other operating income	€ 2,724	€ 5,396	€ 2,349
Government Grants
Disclosure Of Income And Expenses [Line Items]
Other operating income	1,547	4,228	2,266
Other
Disclosure Of Income And Expenses [Line Items]
Other operating income	€ 1,177	€ 1,168	€ 83

Income and Expenses - Finance Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Analysis Of Income And Expense [Abstract]
Interest income	€ 1,781	€ 1,996	€ 2,133
Foreign exchange gains (net)	2,341	6,050
Total	€ 4,122	€ 8,046	€ 2,133

Income and Expenses - Finance Expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Analysis Of Income And Expense [Abstract]
Financial instruments measured at amortized cost	€ 326	€ 48	€ 53
Foreign exchange loss (net)			25,955
Total	€ 326	€ 48	€ 26,007

Income Tax - Additional Information (Details)	12 Months Ended
Income Tax - Additional Information (Details)	Dec. 31, 2019 EUR (€)
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Abstract]
Property tax expense	€ 28,000
Deferred tax assets for unused tax losses recognized	€ 0

Income Tax - Summary of Reconciliation of Tax Expense to Estimated Tax Rate (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Major Components Of Tax Expense Income [Abstract]
Loss before tax	€ (179,440)	€ (47,662)	€ (85,905)
Expected tax benefit (based on BioNTech`s statutory tax rate of 30.78%, 2018: 30.99%, 2017: 30.86%)	55,240	14,776	26,517
Effects
Government grants exempted from taxes	48	28	17
Non-deductible expenses	(58)	(18)	(22)
Add-back for trade tax purposes	(110)	(96)	(70)
Non-recognition of tax-effect on share-based payment expenses	(9,308)
Tax-effective equity transaction costs	5,121
Utilization of tax losses		1,165
Non-recognition of deferred taxes on tax losses and temporary differences	(51,197)	(13,634)	(26,015)
Deviation valuation allowance prior year due to change tax rate	192
Effect from lower foreign income tax rate	(102)
Adjustment prior year tax	316
Other effects	154	(2,821)	(472)
Income tax expense	268	€ (600)	€ (45)
Income tax expense excluding property tax	€ 296

Income Tax - Summary of Reconciliation of Tax Expense to Estimated Tax Rate (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Major Components Of Tax Expense Income [Abstract]
Statutory tax rate	30.78%	30.99%	30.86%

Income Tax - Summary of Deferred Taxes (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Gross Carrying Amount
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	€ 28,951	€ 16,676
Recognized in P&L	(2,681)	12,275
Deferred tax assets net	26,270	28,951
Gross Carrying Amount \| Fixed assets
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	(90)	(877)
Recognized in P&L	(565)	787
Deferred tax assets net	(655)	(90)
Gross Carrying Amount \| Leases
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	306	83
Recognized in P&L	206	223
Deferred tax assets net	512	306
Gross Carrying Amount \| Inventories
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net		83
Recognized in P&L	596	(83)
Deferred tax assets net	596
Gross Carrying Amount \| Contract liabilities (prior year revenues)
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	28,441	16,631
Recognized in P&L	(4,898)	11,810
Deferred tax assets net	23,543	28,441
Gross Carrying Amount \| Provisions
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	134	73
Recognized in P&L	53	61
Deferred tax assets net	187	134
Gross Carrying Amount \| Other (incl. deferred expenses)
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	161	684
Recognized in P&L	1,926	(523)
Deferred tax assets net	2,087	161
Valuation Adjustment
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets net	(28,951)	(16,676)
Recognized in P&L	2,681	(12,275)
Deferred tax assets net	€ (26,270)	€ (28,951)

Income Tax - Summary of Accumulated Tax Losses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Abstract]
Corporate Tax	€ 356,044	€ 179,264	€ 178,491
Trade Tax	€ 352,341	€ 176,425	€ 176,024

Earnings Per Share - Additional Information (Details)	Sep. 18, 2019 shares
Earnings Per Share [Abstract]
Shares issued during period stock split	206,595,492
Stock split ratio	0.05556

Earnings Per Share - Summary of Income and Share Data Used in the Basic and Diluted EPS Calculations (Details) - EUR (€) € in Thousands, shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Loss attributable to ordinary equity holders of the parent for basic earnings	€ (179,056)	€ (48,019)	€ (85,653)
Weighted average number of ordinary shares for basic EPS	211,499	190,710	166,764
Weighted average number of ordinary shares adjusted for the effect of dilution	211,499	190,710	166,764

Property Plant and Equipment - Summary of Property Plant and Equipment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	€ 66,200	€ 49,606
Acquisition of subsidiaries and businesses, net of cash acquired	999
Property plant and equipment, Ending balance	93,044	66,200
Gross Carrying Amount
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	102,853	77,310
Additions	38,592	26,401
Disposals	(115)	(858)
Property plant and equipment, Ending balance	142,329	102,853
Cumulative Depreciation and Impairment Charges
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	36,652	27,703
Depreciation	12,715	9,131
Disposals	(79)	(182)
Currency differences	(3)
Property plant and equipment, Ending balance	49,285	36,652
Land and Buildings
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	15,675	7,387
Property plant and equipment, Ending balance	21,143	15,675
Land and Buildings \| Gross Carrying Amount
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	22,147	13,077
Additions	7,269	8,925
Reclassifications	53	145
Property plant and equipment, Ending balance	29,469	22,147
Land and Buildings \| Cumulative Depreciation and Impairment Charges
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	6,472	5,690
Depreciation	1,854	782
Property plant and equipment, Ending balance	8,326	6,472
Equipment, Tools and Installations
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	43,433	36,067
Acquisition of subsidiaries and businesses, net of cash acquired	999
Property plant and equipment, Ending balance	42,247	43,433
Equipment, Tools and Installations \| Gross Carrying Amount
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	73,613	58,080
Additions	8,700	11,322
Disposals	(105)	(858)
Reclassifications		5,069
Currency differences	(1)
Property plant and equipment, Ending balance	83,206	73,613
Equipment, Tools and Installations \| Cumulative Depreciation and Impairment Charges
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	30,180	22,013
Depreciation	10,861	8,349
Disposals	(79)	(182)
Currency differences	(3)
Property plant and equipment, Ending balance	40,959	30,180
Construction in Progress and Advance Payments
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	7,091	6,153
Property plant and equipment, Ending balance	29,652	7,091
Construction in Progress and Advance Payments \| Gross Carrying Amount
Disclosure Of Property Plant And Equipment [Line Items]
Property plant and equipment, Beginning balance	7,091	6,153
Additions	22,623	6,154
Disposals	(10)
Reclassifications	(53)	(5,216)
Currency differences	1
Property plant and equipment, Ending balance	€ 29,652	€ 7,091

Intangible Assets - Summary of Detailed Information About Intangible Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	€ 88,042	€ 83,537
Ending Balance	89,434	88,042
Goodwill
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	534	534
Ending Balance	2,978	534
Concessions, Licenses and Similar Rights
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	86,011	79,438
Ending Balance	84,053	86,011
Advance Payments
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	1,497	3,565
Ending Balance	2,403	1,497
Gross Carrying Amount
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	103,883	89,370
Additions	13,273	15,278
Disposals	(610)	(765)
Currency differences	(23)
Acquisition of subsidiaries and businesses, net of cash acquired	5,170
Ending Balance	121,693	103,883
Gross Carrying Amount \| Goodwill
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	534	534
Acquisition of subsidiaries and businesses, net of cash acquired	2,444
Ending Balance	2,978	534
Gross Carrying Amount \| Concessions, Licenses and Similar Rights
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	101,853	85,271
Additions	11,744	12,150
Disposals	(133)
Reclassifications	146	4,431
Currency differences	(23)
Acquisition of subsidiaries and businesses, net of cash acquired	2,726
Ending Balance	116,313	101,853
Gross Carrying Amount \| Advance Payments
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	1,497	3,565
Additions	1,529	3,128
Disposals	(477)	(765)
Reclassifications	(146)	(4,431)
Ending Balance	2,403	1,497
Cumulative Depreciation and Impairment Charges
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	15,842	5,833
Amortization	16,502	10,009
Disposals	(81)
Currency differences	(3)
Ending Balance	32,260	15,842
Cumulative Depreciation and Impairment Charges \| Concessions, Licenses and Similar Rights
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	15,842	5,833
Amortization	16,502	10,009
Disposals	(81)
Currency differences	(3)
Ending Balance	€ 32,260	€ 15,842

Intangible Assets - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Intangible Assets [Abstract]
Contractual commitments	€ 0	€ 19,482
Pre-tax discount rate	9.00%	12.20%
Cash flows beyond the five-year period growth rate	1.80%	1.00%

Intangible Assets - Summary of Goodwill Recognized (Details) - Goodwill - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Intangible Assets [Line Items]
Goodwill	€ 2,978	€ 534
MAB Discovery
Disclosure Of Intangible Assets [Line Items]
Goodwill	2,205
JPT Peptide Technologies
Disclosure Of Intangible Assets [Line Items]
Goodwill	534	€ 534
reBOOST
Disclosure Of Intangible Assets [Line Items]
Goodwill	€ 239

Financial Assets and Financial Liabilities - Summary of Cash and Cash Equivalents (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	€ 519,149	€ 411,495	€ 172,106	€ 303,680
Total	€ 519,149	€ 411,495	€ 172,106	€ 303,680

Financial Assets and Financial Liabilities - Summary of Financial Assets at Amortized Cost (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Financial Assets [Line Items]
Financial assets at amortized cost	€ 13,593	€ 19,292
Total current	13,593	19,273
Total non-current		18
Trade Receivables
Disclosure Of Financial Assets [Line Items]
Financial assets at amortized cost	11,913	18,938
Other Financial Assets and Receivables
Disclosure Of Financial Assets [Line Items]
Financial assets at amortized cost	€ 1,680	€ 354

Financial Assets and Financial Liabilities - Summary of Financial liabilities at Amortized Cost (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Financial Liabilities [Line Items]
Financial liabilities at amortized cost	€ 104,743	€ 104,205
Total current	35,699	49,987
Total non-current	69,044	54,218
Trade Payables
Disclosure Of Financial Liabilities [Line Items]
Financial liabilities at amortized cost	19,909	41,721
Lease Liabilities
Disclosure Of Financial Liabilities [Line Items]
Financial liabilities at amortized cost	56,683	50,752
Other Financial Liabilities
Disclosure Of Financial Liabilities [Line Items]
Financial liabilities at amortized cost	11,551	6,132
2.15% Secured Bank loan
Disclosure Of Financial Liabilities [Line Items]
Financial liabilities at amortized cost	9,000	4,000
2.08% Secured Bank loan
Disclosure Of Financial Liabilities [Line Items]
Financial liabilities at amortized cost	€ 7,600	€ 1,600

Financial Assets and Financial Liabilities - Summary of Financial liabilities at Amortized Cost (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019 EUR (€)
2.15% Secured Bank loan
Disclosure Of Financial Liabilities [Line Items]
Secured bank loan maturity date	Dec. 30, 2027
Secured bank loan	€ 10,000,000
2.08% Secured Bank loan
Disclosure Of Financial Liabilities [Line Items]
Secured bank loan maturity date	Sep. 30, 2028
Secured bank loan	€ 9,450,000

Financial Assets and Financial Liabilities - Additional Information (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
2.15% Secured Loan
Disclosure Of Redesignated Financial Assets And Liabilities [Line Items]
Loan secured by permanent guarantee	€ 10,000,000
Loan repayable quarterly Installment	312,500
Undrawn available amount	1,000,000
2.15% Secured Loan \| Land and Buildings
Disclosure Of Redesignated Financial Assets And Liabilities [Line Items]
Loan secured by land and buildings	10,000,000	€ 10,000,000
2.08% Bank Loan
Disclosure Of Redesignated Financial Assets And Liabilities [Line Items]
Loan secured by permanent guarantee	9,450,000	€ 9,450,000
Loan repayable quarterly Installment	286,400
Undrawn available amount	1,850,000
2.08% Bank Loan \| Land and Buildings
Disclosure Of Redesignated Financial Assets And Liabilities [Line Items]
Loan secured by land and buildings	€ 9,450,000

Financial Assets and Financial Liabilities - Summary of Carrying Amount of Monetary Assets (Details) - Currency Risk - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Cash And Cash Equivalents [Line Items]
Total	€ 213,913	€ 176,376
USD Bank Accounts
Disclosure Of Cash And Cash Equivalents [Line Items]
Total	€ 213,913	€ 176,376

Financial Assets and Financial Liabilities - Summary of Effect of Changes in Foreign Exchange Rates (Details) - Currency Risk € in Thousands	12 Months Ended
	Dec. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€)
+5 %
Disclosure Of Effect Of Changes In Foreign Exchange Rates [Line Items]
Effect on loss before tax	€ (10,186)	€ (8,399)
Effect on pre-tax equity	(10,186)	(8,399)
-5%
Disclosure Of Effect Of Changes In Foreign Exchange Rates [Line Items]
Effect on loss before tax	11,259	9,283
Effect on pre-tax equity	€ 11,259	€ 9,283
United States \| USD
Disclosure Of Effect Of Changes In Foreign Exchange Rates [Line Items]
Closing rate	1.1234	1.1450
Average rate	1.1195	1.1810

Financial Assets and Financial Liabilities - Summary of Maturity Profile of Financial Liabilities Based on Contractual Undiscounted Payments (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Financial Liabilities [Line Items]
Lease liabilities	€ 57,612	€ 50,752
Liquidity Risk
Disclosure Of Financial Liabilities [Line Items]
Interest bearing loans and borrowings	21,268	5,600
Trade and other payables	20,498	41,721
Lease liabilities	78,910	73,692
Other financial liabilities	10,351	6,132
Total	131,027	127,145
Within One Year \| Liquidity Risk
Disclosure Of Financial Liabilities [Line Items]
Interest bearing loans and borrowings	2,220
Trade and other payables	20,498	41,721
Lease liabilities	5,176	3,822
Other financial liabilities	10,351	6,132
Total	38,245	51,675
1 to 5 Years \| Liquidity Risk
Disclosure Of Financial Liabilities [Line Items]
Interest bearing loans and borrowings	10,693	5,600
Lease liabilities	17,882	13,346
Total	28,575	18,946
More than 5 years \| Liquidity Risk
Disclosure Of Financial Liabilities [Line Items]
Interest bearing loans and borrowings	8,355
Lease liabilities	55,852	56,524
Total	€ 64,207	€ 56,524

Financial Assets and Financial Liabilities - Summary of Changes in Liabilities Arising From Financing Activities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance	€ 56,352	€ 52,182
Cash flows	7,939	3,474
New leases and disposals	9,921	697
Ending balance	74,212	56,352
Current Obligations under Lease Contracts
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance	2,134	1,832
Cash flows	(3,061)	(2,126)
New leases and disposals	1,484	296
Reclassification	2,928	2,132
Ending balance	3,485	2,134
Non-current Obligations under Lease Contracts
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance	48,618	50,349
New leases and disposals	8,437	401
Reclassification	(2,928)	(2,132)
Ending balance	54,127	48,618
Interest-bearing Loans and Borrowings
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items]
Beginning balance	5,600
Cash flows	11,000	5,600
Ending balance	€ 16,600	€ 5,600

Inventories - Summary of Inventories (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Classes Of Inventories [Abstract]
Raw materials and supplies	€ 8,201	€ 4,475
Unfinished goods	2,888	80
Finished goods	633	1,234
Total	€ 11,722	€ 5,789

Inventories - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Classes Of Inventories [Abstract]
Inventories recognized as an expense and recognized in cost of sales	€ 2,182	€ 1,789

Trade Receivables - Summary of Trade Receivables (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade And Other Receivables [Abstract]
Trade receivables	€ 11,913	€ 18,938

Trade Receivables - Additional Information (Details)	12 Months Ended
Trade Receivables - Additional Information (Details)	Dec. 31, 2019
Minimum
Trade And Other Receivables [Line Items]
Trade receivable maturity period	20 days
Maximum
Trade And Other Receivables [Line Items]
Trade receivable maturity period	30 days

Other Assets - Summary of Other Assets (Details) - EUR (€) € in Thousands	Dec. 31, 2019	Dec. 31, 2018
Miscellaneous Current Assets [Abstract]
Sales tax receivable	€ 7,536	€ 8,611
Prepayments on inventories	351	155
Other	1,182	398
Total	€ 9,069	€ 9,164

Other Assets - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Miscellaneous Current Assets [Abstract]
Interest income	€ 529	€ 270
Receivables from withholding taxes	€ 310

Issued Capital and Reserves - Additional Information (Details)
€ / shares in Units, $ / shares in Units, € in Thousands, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Nov. 06, 2019

EUR (€)

Nov. 06, 2019

USD ($)

Sep. 18, 2019

Aug. 30, 2019

EUR (€)

Aug. 30, 2019

USD ($)

Mar. 14, 2019

EUR (€)

€ / shares

Jan. 31, 2019

EUR (€)

Aug. 31, 2019

EUR (€)

Aug. 31, 2019

USD ($)

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

Dec. 31, 2017

EUR (€)

Nov. 06, 2019

$ / shares

Oct. 10, 2019

EUR (€)

Oct. 10, 2019

$ / shares

Aug. 31, 2019

$ / shares

Disclosure Of Classes Of Share Capital [Line Items]

Stock split ratio

0.05556

Shares issued during period stock split | shares

206,595,492

Shares issued | shares

5,088,204

€ 5,088

€ 49,874

€ 355,816

Cash investment

€ 80,006

79,997

Increase in capital reserve

232,304

193,296

335,193

Decrease in capital reserve

€ 163,494

Increase in issued capital

26,532

163,494

Share Capital

Disclosure Of Classes Of Share Capital [Line Items]

^[1]

€ 8,126

25,949

€ 163,494

Settling Share-based Payment Plan

3,361

Disclosure Of Classes Of Share Capital [Line Items]

BioNTech Cell & Gene Therapies GmbH

583

Disclosure Of Classes Of Share Capital [Line Items]

Shares issued | shares

2,374,794

Remaining non-controlling interests acquired

€ 2,375

5.50%

Nominal value | € / shares

€ 1.00

Derecognition of non-controlling interest

€ 731

Decrease in capital reserve

€ 1,644

Initial Public Offering (IPO)

Disclosure Of Classes Of Share Capital [Line Items]

Aggregate proceeds from issuance of ordinary share

€ 143,260

$ 157,761

Ordinary shares issued price per share | $ / shares

517

€ 10,000

$ 15.00

Increase in capital reserve

132,743

Increase in share capital

€ 10,517

Ordinary Shares Series B

Disclosure Of Classes Of Share Capital [Line Items]

Ordinary shares issued | shares

12,465,288

Aggregate proceeds from issuance of ordinary share

€ 198,548

$ 225,622

Ordinary shares issued price per share | $ / shares

17,990

$ 18.10

Increase in capital reserve

186,390

Recognition of treasury share balance

€ 5,525

Ordinary Shares Series B | HONG KONG

Disclosure Of Classes Of Share Capital [Line Items]

Ordinary shares issued but not fully paid | shares

5,524,506

Series A Financing Round

Disclosure Of Classes Of Share Capital [Line Items]

Bill & Melinda Gates Foundation

€ 22,588

Disclosure Of Classes Of Share Capital [Line Items]

Ordinary shares issued | shares

3,038,674

Aggregate proceeds from issuance of ordinary share

€ 49,864

$ 55,000