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        <title><![CDATA[COVID-19 vaccine hopes have made these twins $8 billion richer]]></title>
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            <media:title type="html">COVID-19 vaccine hopes have made these twins $8 billion richer</media:title>
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						<p>Meet the other power couple behind the world&#8217;s most promising coronavirus vaccine.</p>
<p>A pair of German twins has reportedly become about $8 billion richer this year thanks to their bet on BioNTech, the upstart firm that has helped Pfizer create its <strong>breakthrough COVID-19 shot</strong>.</p>
<p>Andreas and Thomas Struengmann helped give BioNTech 150 million euros in seed money in 2008, about three years after they sold their generic drug business for roughly $6.7 billion, <strong>Bloomberg News reported</strong>.</p>
<p>The 70-year-old brothers have seen their combined fortune balloon to $22 billion this year amid an explosion in BioNTech&#8217;s stock price, according to Bloomberg, helped by this week&#8217;s announcement that the coronavirus vaccine it&#8217;s developed with Pfizer is more than 90 percent effective.</p>
<p>The Struengmanns own about half of the Mainz, Germany-based company, a stake that&#8217;s worth $12.2 billion in all, according to Bloomberg&#8217;s Billionaires Index. They also hold significant stakes in 4SC and Immatics, two other publicly traded biotech firms, Bloomberg&#8217;s data show.</p>
<figure id="attachment_16616760"  class="wp-caption alignnone aligncenter"><strong><img  data-src="/uploads/2020/11/13/covid-19-vaccine-hopes-have-made-these-twins-8-billion-richer-0.jpg" /></strong><figcaption class="wp-caption-text"><span class="credit">Anadolu Agency via Getty Images</span></figcaption></figure>
<p>The brothers weren&#8217;t always so bullish on biotech. In an interview last year with <strong>Germany&#8217;s Handelsblatt newspaper</strong>, Thomas Struengmann said they initially planned to invest no more than 1 billion euros in industry firms because they take a long time to make progress and sometimes fail.</p>
<p>But they eventually decided to break that limit and went on to invest 1.2 to 1.3 billion euros ($1.4 billion to $1.5 billion) in various biotech outfits, he said.</p>
<p>&#8220;There are also initial successes, and then you want to see your little plants continue to grow,&#8221; he told Handelsblatt.</p>
<p>BioNTech&#8217;s US-listed stock price has roughly tripled this year to close at $101.63 on Thursday. That&#8217;s also been a boon to company founders Dr. Ozlem Tureci and Dr. Ugur Sahin, <strong>a husband-and-wife team</strong> who are now reportedly among the richest couples in Germany.</p>
<p>The Streungmanns apparently have a lot of trust in the pair — they previously backed Ganymed Pharmaceuticals, a cancer-treatment venture that Tureci and Sahin founded in 2001, according to Bloomberg. The brothers see BioNTech as a &#8220;long-term investment, Thomas Struengmann told Handelsblatt.</p>
<p>&#8220;BioNTech is the company that comes closest to our vision of an innovative pharmaceutical company,&#8221; he told the paper.</p>
<figure id="attachment_16616763"  class="wp-caption aligncenter"><strong><img  data-src="/uploads/2020/11/13/covid-19-vaccine-hopes-have-made-these-twins-8-billion-richer-1.jpg" /></strong><figcaption class="wp-caption-text"><span>Injection syringes of the phase 3 COVID-19 vaccine trial by Pfizer and BioNTech company, are seen at the Ankara University Ibni Sina Hospital in Ankara, Turkey on Oct. 27.</span><span class="credit">Anadolu Agency via Getty Images</span></figcaption></figure>
			
					
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                <dc:creator><![CDATA[GAGmen]]></dc:creator>
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