Biontech SE Innovation Series R&D Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Daina Graybosch - Leerink Partners LLC - Analyst : Daina Graybosch here from Leerink Partners. I want to start with a question on BNT327, which targeting PD-L1, where a lot of the competitors are targeting PD-1. And I'd like -- sort of a two-part question. Why you think it's differentiated from clinical data? And the second thing is you spoke a lot about similar activity in PD-L1 low or negative in high tumors, which is really different than what you reported with the PD-L1 4-1BB, where activity was quite restricted to PD-L1 high, which makes sense because that's where you're getting the PD-L1 actually anchoring to the tumor microenvironment. So how do you reconcile your hypothesis on the PD-L1 mechanism with the similar activity in PD-L1 negative and high so far?

Question: Daina Graybosch - Leerink Partners LLC - Analyst : The first is why you differentiate it versus the PD-1 bispecifics.

Question: Daina Graybosch - Leerink Partners LLC - Analyst : I guess maybe if you allow me one more question. I wonder how you're thinking about the political risk with Biotheus and your manufacturing in China.