0001564590-21-016723 | 20-F | XBRL Viewer

Major Components Of Tax Expense Income [Abstract]

Income and Expenses

7	Income and Expenses

7.1	Costs of Sales

	Years ended December 31,
(in thousands)	2020	2019	2018
Cost of sales related to COVID-19 vaccine revenues	€35,616	-	-
Cost related to other sales	23,717	17,361	13,690
Total	€59,333	€17,361	€13,690

During the year ended December 31, 2020, cost of sales mainly increased compared to the year ended December 31, 2019 since costs were recognized for the first time with respect to BioNTech’s COVID-19 vaccine sales and included Pfizer’s share of gross profits earned by BioNTech in transactions, where BioNTech is the principal. Costs of sales do not include costs relating to production of pre-launch products since those are expensed as research and development expenses in the period incurred.

7.2	Research and Development Expenses

	Years ended December 31,
(in thousands)	2020	2019	2018
Purchased services	€359,880	€65,552	€42,079
Wages, benefits and social security expense	126,298	83,213	45,668
Laboratory supplies	107,792	37,218	22,921
Depreciation and amortization	30,192	27,533	18,312
IT costs	5,118	3,800	1,572
Lease and lease related cost	3,725	2,527	2,404
Transport costs	2,135	1,081	668
Other	9,889	5,542	9,416
Total	€645,029	€226,466	€143,040

During the year ended December 31, 2020, research and development expenses increased compared to the year ended December 31, 2019 due to an increase in research and development expenses from BioNTech’s BNT162 program. Research and development expenses include BioNTech’s share of expenses under the terms of the Pfizer collaboration agreement. Development costs, which are shared, are divided equally between BioNTech and Pfizer. The amount of shared development expenses, which were initially incurred by Pfizer and subsequently charged to BioNTech, were recorded as purchased services classified within research and development and the reimbursement from Pfizer for research and development expenses initially incurred by BioNTech were recorded as a reduction to research and development expenses. The increase was further driven by an increase in expenses for purchased laboratory supplies as well as an increase in headcount leading to higher wages, benefits and social security expenses. In addition, from May 6, 2020, the date of acquisition, the new U.S.-based subsidiary, BioNTech US Inc., contributed €21.0 million to the research and development expenses of the Group.

During the year ended December 31, 2019, research and development costs increased compared to the year ended December 31, 2018 based on an increase in wages, benefits and social security expenses due to an increase in headcount and the full-year reflection of the Employee Stock Ownership Plan (“ESOP”) expenses during the year ended December 31, 2019 as well as higher development expenses spent on purchased services and laboratory supplies.

7.3	Sales and Marketing Expenses

	Years ended December 31,
(in thousands)	2020	2019	2018
Purchased services	€10,929	€247	€794
Wages, benefits and social security expense	1,636	1,938	1,728
Other	1,947	533	519
Total	€14,512	€2,718	€3,041

During the year ended December 31, 2020, sales and marketing expenses increased compared to the year ended December 31, 2019 due to an increase in purchased service, which we incurred in connection with progressing the commercial activities of the Group with respect to BioNTech’s COVID-19 vaccine.

7.4	General and Administrative Expenses

	Years ended December 31,
(in thousands)	2020	2019	2018
Wages, benefits and social security expense	€33,007	€19,122	€8,582
Purchased services	26,022	6,419	5,177
IT and office equipment	7,404	4,573	3,774
Depreciation and amortization	5,104	4,855	2,284
Insurance premiums	4,840	1,061	145
Job advertisement expenses	2,897	548	861
Lease and lease related cost	2,390	1,715	1,012
Research services	2,033	232	26
Laboratory supplies	1,191	785	456
Contract staffing	1,108	686	781
Other	8,053	5,551	3,236
Total	€94,049	€45,547	€26,334

During the year ended December 31, 2020, general and administrative expenses increased compared to the year ended December 31, 2019 due to higher expenses for purchased management consulting and legal services, an increase in headcount leading to higher wages, benefits and social security expenses and higher insurance premiums. In addition, from May 6, 2020, the date of acquisition, the new U.S.-based subsidiary, BioNTech US Inc., contributed €7.4 million to the general and administrative expenses of the Group, respectively.

During the year ended December 31, 2019, general and administrative expenses increased compared to the year ended December 31, 2018 based on an increase in headcount and the full-year reflection of the ESOP program expenses during the year ended December 31, 2019 as well as a charge of €2.6 million in connection with certain withholding tax payments for intellectual property licenses related to prior years that was recorded during the year ended December 31, 2019 but not during the year ended December 31, 2018.

7.5	Other Operating Income

	Years ended December 31,
(in thousands)	2020	2019	2018
Government grants	€239,017	€1,547	€4,228
Bargain purchase	7,002	-	50
Other	4,520	1,177	1,118
Total	€250,539	€2,724	€5,396

During the year ended December 31, 2020, the other income increased compared to the year ended December 31, 2019. The increase mainly results from government grants for which BioNTech became eligible as part of an initiative by the German Federal Ministry of Education (Bundesministerium für Bildung und Forschung, or the BMBF) to support its COVID-19 vaccine program, BNT162. The BMBF funding was granted to accelerate BioNTech’s vaccine development, and to upscale its manufacturing capabilities in Germany. The funding will also compensate further costs that incur since the COVID-19 vaccine continues to be tested in clinical trials, for example to test it against new variants or to approve it for additional groups (pregnant women, individuals less 16 years), and because study participants will continue to be followed for two years to continue evaluating safety and efficacy. The proportion of the grant that related to expenses incurred by BioNTech is recognized as other operating income with an amount of €238.9 million; the proportion which was received and will compensate BioNTech for future expenses, has been deferred and is presented as government grant in the consolidated statements of financial position with an amount of €88.0 million.

The following table illustrates the changes regarding the government grants:

	Years ended December 31,
(in thousands)	2020	2019	2018
As of January 1	-	-	-
Received during the year	330,968	1,547	4,228
Released to the consolidated statements of operations	(239,017)	(1,547)	(4,228)
As of December 31	€91,951	-	-
Total current	91,951	-	-
Total non-current	-	-	-

7.6	Finance Income

	Years ended December 31,
(in thousands)	2020	2019	2018
Interest income	€1,564	€1,781	€1,996
Foreign exchange gains, net	-	2,341	6,050
Total	€1,564	€4,122	€8,046

During the year ended December 31, 2019, finance income included €2.3 million foreign exchange gains. Foreign exchange differences on a cumulative basis, are either shown as finance income or expenses.

7.7	Finance Expense

	Years ended December 31,
(in thousands)	2020	2019	2018
Amortization of financial instruments	€3,048	€326	€48
Fair value adjustments of financial instruments measured at fair value	17,289	-	-
Foreign exchange loss, net	42,609	-	-
Total	€62,946	€326	€48

During the year ended December 31, 2020, finance expenses included €42.6 million foreign exchange losses as well as €17.3 million in expenses arising from fair value measurement adjustments of the derivative embedded within the convertible note. The increase in foreign exchange losses is mainly due to higher balances in U.S. dollar bank accounts and the weakening of the U.S. dollar when compared to the Euro.

7.8	Employee Benefits Expense

	Years ended December 31,
	2020	2019	2018
(in thousands)
Wages and salaries	€160,655	€98,568	€54,149
Social security costs	17,988	12,394	8,231
Pension costs	761	517	324
Total	€179,404	€111,479	€62,704

The item wages and salaries includes, among other things, expenses for share-based payments.

Income Tax

12 Months Ended

Dec. 31, 2020

Income Tax

8	Income Tax

Income tax for the years ended December 31, 2020, December 31, 2019 and December 31, 2018 comprised current income taxes, other taxes and deferred taxes. BioNTech SE is subject to corporate taxes, the solidarity surcharge and trade taxes. The Company’s corporate tax rate in the reporting year remained unchanged (15.0%) as did the solidarity surcharge (5.5%) whereas the average trade tax rate (15.0%) changed. BioNTech USA Holding, LLC is subject to Federal Corporate Income Tax (21.0%) as well as State Income Tax in various state jurisdictions (average rate of 8.1%).

The following table illustrates the current and deferred taxes for the periods indicated:

	Years ended December 31,
(in thousands)	2020	2019	2018
Current income taxes	€17	€(296)	€600
Deferred taxes	(161,034)	-	-
Other taxes	17	28	-
Income taxes	€(161,000)	€(268)	€600

The following table reconciles the expected income taxes to the actual current income taxes and deferred taxes as presented in the table above. The combined income tax rate of 30.79% in the year ended December 31, 2020 (during the years ended December 31, 2019 and 2018: 30.78% and 30.99%, respectively) was applied to loss before taxes to calculate the expected income taxes. This rate consists of above outlined tax rates of BioNTech SE applicable to the Group. The slight decrease of the tax rate results from the Lipocalyx GmbH business combination.

	Years ended December 31,
(in thousands)	2020	2019	2018
Loss before tax	€(145,802)	€(179,440)	€(47,662)

Expected tax benefit (based on BioNTech`s statutory tax rate of 30.79%, 2019: 30.78%, 2018: 30.99%)	44,891	55,240	14,776

Effects
Government grants exempted from taxes	14	48	28
Non-deductible expenses	(770)	(58)	(18)
Add-back for trade tax purposes	(595)	(110)	(96)
Non-tax effective bargain purchase	2,156	-	-
Non-recognition of tax effect on share-based payment expenses	(9,806)	(9,308)	-
Tax-effective equity transaction costs	10,229	5,121	-
Utilization of tax losses	-	-	1,165
Non-recognition of deferred taxes on tax losses and temporary differences	(12,961)	(51,197)	(13,634)
Recognition of deferred taxes on tax losses not recognized in prior periods	102,231	-	-
Recognition of deferred taxes on temporary differences not recognized in prior periods	26,241	192	-
Effect from lower foreign income tax rate	(1,304)	(102)	-
Adjustment prior year tax	(326)	316	-
Tax credit	1,059	-	-
Other effects	(59)	126	(2,821)
Income taxes	€161,000	€268	€(600)

Deferred Taxes

Deferred taxes for the periods indicated relate to the following:

Year ended December 31, 2020
(in thousands)	January 1, 2020	Recognized in P&L*	Recognized in OCI	Acquisition of subsidiaries and businesses	December 31, 2020
Fixed assets	€(655)	€(2,370)	-	€8,637	€5,612
Inventories	596	46	-	329	971
Leases	512	(5,091)	-	(14)	(4,593)
Contract liabilities	23,543	(174)	-	-	23,369
Interest-bearing loans and borrowings	-	(2,741)	-	195	(2,546)
Net employee defined benefit liabilities	-	169	(63)	698	804
Provisions	187	886	-	419	1,492
Other (incl. deferred expenses)	2,087	8,336	-	202	10,625
Tax loss carryforward / tax credit	109,764	41,660	-	24,280	175,704
Deferred Tax Assets Net (before valuation)	€136,034	€40,721	€(63)	€34,746	€211,438
Valuation Adjustment	(136,034)	120,313	-	(34,765)	(50,486)
Deferred Tax Assets Net (after valuation)	-	€161,034	€(63)	€(19)	€160,952

*Includes all changes in deferred taxes related to U.S. tax group other than those acquired in business combination

Year ended December 31, 2019
(in thousands)	January 1, 2019	Recognized in P&L	Recognized in OCI	Acquisition of subsidiaries and businesses	December 31, 2019
Fixed assets	€(90)	€(565)	-	-	€(655)
Inventories	-	596	-	-	€596
Leases	306	206	-	-	€512
Contract liabilities	28,441	(4,898)	-	-	€23,543
Provisions	134	53	-	-	€187
Other (incl. deferred expenses)	161	1,926	-	-	€2,087
Tax loss carryforward / tax credit	55,848	53,916	-	-	€109,764
Deferred Tax Assets Net (before valuation)	€84,799	€51,235	-	-	€136,034
Valuation Adjustment	(84,799)	(51,235)	-	-	(136,034)
Deferred Tax Assets Net (after valuation)	-	-	-	-	-

Accumulated tax losses of the German tax group, German entities not within the tax group and U.S. tax group for the periods indicated amount to the following:

	Years ended December 31,
(in thousands)	2020	2019	2018
Corporate Tax	€596,359	€356,044	€179,264
Trade Tax	513,561	352,341	176,425

	Years ended December 31,
(in thousands)	2020	2019	2018
Federal Tax Credits	€756	-	-
State Tax Credits	250	-	-

The accumulated tax losses related to the German tax group include €457.9 million of corporate income tax losses and €450.9 million of trade tax losses. Under German law, tax losses do not expire. Deferred tax assets on tax losses had not been capitalized in previous years, as there was not sufficient probability in terms of IAS 12 that there would have been future taxable profits available against which the unused tax losses could have been utilized. Following the authorization and approval of the COVID-19 vaccine for emergency or temporary use or having been granted conditional marketing authorization in over 65 countries worldwide, BioNTech re-evaluated previously unrecognized tax losses. Based on BioNTech’s product-based business plan, including commercial supply commitments agreed with various governments and health ministries under which BioNTech either directly supplies the COVID-19 vaccine or, if they relate to territories which have been allocated to Pfizer, BioNTech will receive the profit share to which it is eligible, it is now considered highly probable that taxable profits for the German tax group will be available against which the tax losses can be utilized. On this basis, BioNTech recognized deferred tax assets and liabilities with a net amount of €161.0 million for the losses and temporary differences determined for the German tax group as of December 31, 2020.

The accumulated tax losses related to German entities not within the tax group include €1.7 million of corporate income tax losses and €1.8 million of trade tax losses. With respect to those tax losses, no deferred tax assets have 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 related to U.S. tax group include €136.8 million of corporate income tax losses and €60.9 million of trade tax losses. The tax losses related to the U.S. tax group include €20.9 million of federal losses that are expected to expire in 2033 and €115.9 million of federal losses which have no expiration date and can be carried forward indefinitely. In addition, the U.S. tax group has state tax losses of €60.9 million, which may be available to offset future taxable profit and that expire at various dates beginning in 2033. BioNTech’s forecast for the U.S. tax group does not provide sufficient probability for the use of existing tax loss carryforwards in the near future. Therefore, the requirements set out by IAS 12 are not fulfilled for the U.S. tax group. As of December 31, 2020, deferred tax assets are only recognized up to the amount of deferred tax liabilities.

In addition to accumulated tax losses, BioNTech had accumulated federal tax credits of €0.8 million and state tax credits of €0.3 million in the United States as of December 31, 2020. The tax credits in the United States will expire at various dates beginning in 2035 if they are not used.

Earnings per share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings per share

9	Earnings per Share

Basic earnings per share (EPS) is calculated by dividing the profit / (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 / (loss) 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)	2020	2019	2018
Gain (loss) attributable to ordinary equity holders of the parent for basic earnings	€15,198	€(179,056)	€(48,019)

Weighted average number of ordinary shares for basic EPS	235,442	211,499	190,710
Effects of dilution from share options	13,085	-	-
Weighted average number of ordinary shares adjusted for the effect of dilution	248,527	211,499	190,710

Earnings per share
in EUR
Basic and diluted, profit / (loss) for the period attributable to ordinary equity holders of the parent*	€0.06	€(0.85)	€(0.25)

* Numbers of shares for calculating the earnings per share for the years ended December 31, 2019 and December 31, 2018 have been adjusted to reflect capital increase due to 1:18 share split, which occurred on September 18, 2019.

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. Share options were not included in the calculation of diluted EPS for periods in which they were antidilutive; i.e. for the periods in which a loss was incurred.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

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, 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	-	999	-	999
As of December 31, 2019	€29,469	€83,206	€29,652	€142,329
As of January 1, 2020	€29,469	€83,206	€29,652	€142,329
Additions	14,927	10,093	41,013	66,033
Disposals	(41)	(6,892)	(958)	(7,891)
Reclassifications	8,561	1,832	(10,391)	-
Currency differences	(52)	(638)	-	(690)
Acquisition of subsidiaries and businesses	8,400	54,817	22,302	85,519
As of December 31, 2020	€61,264	€142,418	€81,618	€285,300

(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, 2019	€6,472	€30,180	-	€36,652
Depreciation	1,854	10,861	-	12,715
Disposals	-	(79)	-	(79)
Reclassifications	-	-	-	-
Currency differences	-	(3)	-	(3)
As of December 31, 2019	€8,326	€40,959	-	€49,285
As of January 1, 2020	€8,326	€40,959	-	€49,285
Depreciation	2,074	13,753	-	15,827
Disposals	(41)	(6,683)	-	(6,724)
Reclassifications	-	-	-	-
Currency differences	(3)	(53)	-	(56)
As of December 31, 2020	€10,356	€47,976	-	€58,332

(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, 2019	€15,675	€43,433	€7,091	€66,200
As of December 31, 2019	€21,143	€42,247	€29,652	€93,044
As of December 31, 2020	€50,908	€94,442	€81,618	€226,968

Intangible Assets

12 Months Ended

Dec. 31, 2020

Disclosure Of Intangible Assets [Abstract]

Intangible Assets

11	Intangible Assets

(in thousands)	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
Acquisition costs	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
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	2,444	2,726	-	5,170
As of December 31, 2019	€2,978	€116,313	€2,403	€121,693
As of January 1, 2020	€2,978	€116,313	€2,403	€121,693
Additions	-	4,187	4,426	8,613
Disposals	-	(5,435)	(643)	(6,078)
Reclassifications	-	233	(233)	-
Currency differences	(6,750)	(3,897)	-	(10,647)
Acquisition of subsidiaries and businesses	57,469	35,845	-	93,314
As of December 31, 2020	€53,697	€147,246	€5,953	€206,895

(in thousands)	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
Cumulative depreciation and impairment charges	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
As of January 1, 2019	-	€15,842	-	€15,842
Depreciation	-	16,502	-	16,502
Disposals	-	(81)	-	(81)
Reclassifications	-	-	-	-
Currency differences	-	(3)	-	(3)
As of December 31, 2019	-	€32,260	-	€32,260
As of January 1, 2020	-	€32,260	-	€32,260
Depreciation	-	16,627	-	16,627
Disposals	-	(5,410)	-	(5,410)
Reclassifications	-	-	-	-
Currency differences	-	(72)	-	(72)
As of December 31, 2020	-	€43,405	-	€43,405

(in thousands)	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
Carrying amount	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
As of January 1, 2019	€534	€86,011	€1,497	€88,042
As of December 31, 2019	€2,978	€84,053	€2,403	€89,434
As of December 31, 2020	€53,697	€103,841	€5,953	€163,490

Goodwill and intangible assets with indefinite useful lives

For impairment testing, goodwill acquired through business combinations has been allocated to the cash-generating units (CGU) as shown in the following table:

	CGU Immunotherapies		External Product Sales of JPT		Total
(in thousands)	As of December 31, 2020	As of December 31, 2019	As of December 31, 2020	As of December 31, 2019	As of December 31, 2020	As of December 31, 2019
Goodwill	€53,163	€2,444	€534	€534	€53,697	€2,978

The Group performs its annual goodwill impairment test for the respective year as of October 1. As a result of the change to one reportable segment (Note 2.1), BioNTech evaluated the implications on its determination of CGUs for allocation of goodwill. As a result, two CGUs were identified:

•

The Immunotheraopies CGU focuses on the development of therapies to address a range of rare and infectious diseases and includes BioNTech’s broad pipeline includes mRNA-based immune activators, antigen-targeting T-cells and antibodies, and defined immunomodulators of various immune cell mechanisms.

•

The External Products Sales of JPT Peptide Technologies GmbH CGU includes the distribution of innovative peptide-based products to external customers.

CGU Immunotherapies

The recoverable amount of the CGU Immunotherapies has been determined based on a value in use calculation using cash flow projections from financial budgets approved by the Management Board covering a fifteen-year period. The projected cash flows have been updated to reflect the near-term effect from BioNTech’s COVID-19 vaccine. The discount rate applied to cash flow projections is 8.9% and cash flows beyond the forecast period are extrapolated using a 1.0% growth rate that is the same as the long-term average growth rate for the biotech industry. It was concluded that the fair value less costs of disposal did not exceed the value in use. As a result of the analysis, management did not identify an impairment for this CGU.

CGU External Product Sales of JPT Peptide Technologies GmbH

The recoverable amount of the CGU External Product Sales of JPT Peptide Technologies GmbH has been determined based on a value in use calculation using cash flow projections from financial budgets approved by senior management covering a ten-year period. The discount rate applied to cash flow projections is 7.9% and cash flows beyond the forecast period are extrapolated using a 1.0% growth rate which is in line with industry standard. It was concluded that the fair value less costs of disposal did not exceed the value in use. As a result of the analysis, management did not identify an impairment for this CGU.

Key assumptions used in value in use calculations and sensitivity to changes in assumptions

The calculation of value in use for both CGUs, Immunotherapies and External Product Sales of JPT Peptide Technologies GmbH, is most sensitive to the following assumptions:

•

Discount rates

•

Growth rates used to extrapolate cash flows beyond the forecast period

Discount rates − Discount rates represent the current market assessment of the risks specific to the CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Group and the respective CGU. It is derived from its weighted average cost of capital (WACC). The WACC takes into account both debt and equity. The cost of equity is derived from the expected return on investment by the Group’s investors. The cost of debt is based on the interest-bearing borrowings the Group is obliged to service. CGU-specific risk is incorporated by applying individual beta factors. The beta factors are evaluated annually based on publicly available market data. Adjustments to the discount rate are made to factor in the specific amount and timing of the future tax flows in order to reflect a pre-tax discount rate.

An increase in the discount rate to 9.4% (i.e., +1.5%point) in the CGU External Product Sales of JPT Peptide Technologies GmbH would result in a goodwill impairment as of October 1, 2020. With respect to the CGU Immunotherapies, no reasonable rise in the discount rate would result in an impairment.

Growth rate estimates − Rates are based on published industry research. Management recognizes that the speed of technological change and the possibility of new entrants (further market approvals) can have a significant impact on growth rate assumptions. The effect of new entrants is not expected to have an adverse impact on the forecasts, but could yield a reasonably possible alternative to the estimated long-term growth rate of 1.0%.

With respect to both CGUs, no reasonable reduction in the growth rate estimate would result in an impairment.

In general, BioNTech 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.

Intangible Assets not yet Available for Use

Intangible assets not yet available for use did not exist in the years ended December 31, 2020 and December 31, 2019.

Non-Current assets by Region

As of December 31, 2020 and December 31, 2019, non-current assets comprised €89.2 million respectively €3.8 million intangible assets, property, plant and equipment, right-of-use assets and other assets of our subsidiaries incorporated in the United States respectively. The remaining non-current assets relate to subsidiaries incorporated in Germany.

Financial Assets and Financial Liabilities

12 Months Ended

Dec. 31, 2020

Disclosure Of Financial Instruments [Abstract]

Financial Assets and Financial Liabilities

12	Financial Assets and Financial Liabilities

12.1	Capital Risk Management

BioNTech’s capital management objectives are designed primarily 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,

2020

December 31,

2019

Cash and cash equivalents at banks and on hand

€1,210,209

€519,149

Total

€1,210,209

€519,149

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. BioNTech’s capital management objectives 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, 2020 and December 31, 2019.

12.2	Categories of Financial Instruments

Financial assets at amortized cost

Set out below, is an overview of financial assets, other than cash and cash equivalents, held by the Group as of the dates indicated:

Financial assets at amortized cost
(in thousands)	December 31, 2020	December 31, 2019
Trade receivables	€165,468	€11,913
Other financial assets	137,234	1,680
Total	€302,702	€13,593
Total current	302,702	13,593
Total non-current	-	-

As of December 31, 2020, other financial assets mainly include advance-payments received by BioNTech’s collaboration partner on future deliveries and payable to BioNTech.

Financial liabilities: Financial liabilities at amortized cost (including Interest-bearing loans and borrowings and other financial liabilities)

Set out below, is an overview of financial liabilities, other financial liabilities and trade payables held by the Group as of the dates indicated:

Interest-bearing loans and borrowings
(in thousands)	Maturity	December 31, 2020	December 31, 2019
Lease liabilities		€84,158	€57,611
Convertible note - host contract	08/28/2024	87,457	-
3.50% € 50,000,000 secured bank loan	12/21/2026	47,176	-
2.15% € 10,000,000 secured bank loan	12/30/2027	9,032	9,000
2.08% € 9,450,000 secured bank loan	09/30/2028	8,877	7,600
1.90% € 3,528,892.48 secured bank loan	05/30/2039	3,489	-
Total		€240,189	€74,211
Total current		9,142	5,307
Total non-current		231,047	68,904

Other financial liabilities
(in thousands)	December 31, 2020	December 31, 2019
Derivatives not designated as hedging instrument
Convertible note - embedded derivative	€30,903	-
Financial liabilities at fair value through profit or loss
Contingent consideration	572	-
Total financial liabilities at fair value	€31,475	-

Other financial liabilities at amortized cost, other than interest-bearing loans and borrowings
Trade payables	102,288	20,498
Other financial liabilities	74,076	10,352
Total other financial liabilities at amortized cost, other than interest-bearing loans and borrowings	€176,364	€30,850

Total other financial liabilities	€207,839	€30,850
Total current	176,363	30,850
Total non-current	31,476	-

Total financial liabilities
(in thousands)	December 31, 2020	December 31, 2019
Interest-bearing loans and borrowings	€240,189	€74,211
Other financial liabilities	€207,839	€30,850
Total	€448,028	€105,061
Total current	185,505	36,157
Total non-current	262,523	68,904

Interest-Bearing Loans and Borrowings

2.15% and 2.08% Secured Bank Loan

BioNTech maintains two secured loans with Deutsche Bank AG, or Deutsche Bank, to finance the buildouts of the JPT Peptide Technologies GmbH facility and BioNTech Innovative Manufacturing Services GmbH facility. The €10.0 million secured credit facility, entered into with Deutsche Bank by the subsidiary BioNTech Innovative Manufacturing Services GmbH, bears interest at a rate of 2.15% and matures on December 30, 2027. The loan is repayable in equal quarterly installments of €0.3 million commencing on June 30, 2020. As of December 31, 2020, the full amount under this facility is drawn down and the first three scheduled repayments have occurred. The €9.45 million secured credit facility, entered into with Deutsche Bank by the subsidiary JPT Peptide Technologies GmbH, bears interest at a rate of 2.08% and matures on September 30, 2028. The loan is repayable by quarterly installments of €0.3 million commencing on September 30, 2020. As of December 31, 2020, the full amount under this facility is drawn down and the first two scheduled repayments have occurred. Each of these facilities is secured by liens over property.

EIB Manufacturing Financing – 3.50% Secured Bank Loan

In June 2020, BioNTech entered into an agreement with the EIB for a €100.0 million credit facility to partially support the development of BNT162 and fund expansion of the manufacturing capacity to provide worldwide supply of BNT162 in response to the COVID-19 pandemic. The credit consists of (i) a term loan in the amount of €50 million that may be drawn in a single tranche upon the achievement of certain milestone events (Credit A), and (ii) a term loan in the amount of €50.0 million that may be drawn in a single tranche (Credit B). Credit B may only be drawn down after Credit A has been drawn down and upon the achievement of certain milestone events. The financing arrangement is to be secured by way of liens over certain of our property. On December 21, 2020, €50.0 million from Credit A was drawn down. Interest is payable on the outstanding balance of Credit A at the cash interest fixed rate of 1% per annum quarterly in arrears, plus deferred interest at fixed rate of 2.5% per annum. The nominal amount must be repaid on December 21, 2026.

June 2020 Private Placement – Convertible Note

A fund associated with Temasek Capital Management Pte. Ltd., or Temasek, and another accredited investor, contributed a private investment which closed as of August 28, 2020 following the satisfaction of customary closing conditions. The private placement includes an investment in ordinary shares (see Note 16) and a €100.0 million investment in a 4-year mandatory convertible note with a coupon of 4.5% per annum and a conversion premium of 20% above its reference price. As of closing, the convertible note has been classified as a financial liability according to IAS 32 because the conversion features of the note lead to a conversion into a variable number of shares and is measured at amortized costs since the fair value option was not applied. On initial recognition, the financial liability was measured at the present value of the contractually determined future cash flows discounted at the effective interest rate of 9.0%. The financial liability is subsequently measured at amortized cost by using the effective interest rate method until extinguished upon conversion. The conversion features provided for in the contract were identified as a combined embedded derivative since they share the same risk exposure and are interdependent. The embedded derivative was bifurcated from the convertible note, as host contract, and is recognized as a separate financial instrument. Based on the classification as derivative, the instrument is measured at fair value through profit and loss until it is extinguished upon conversion. The fair value of the embedded derivative is determined by modeling the stock price movement using the Cox-Rubinstein binomial tree model to derive the value of the conversion right. The primary inputs used in the model include stock price volatility, credit spreads, risk-free interest rate and foreign exchange forward rates. Stock price volatility is based on implied volatility for BioNTech, credit risk is model implied and adjusted for movement in credit spreads for B-rated corporates at each valuation date, the risk-free interest rate is based on currency specific time congruent IBOR and swap rates whereas the foreign exchange forward rates are based on observable market data.

Other Financial Liabilities at Amortized Cost

Other financial liabilities at amortized cost mainly include provision for outstanding services and obligations derived from license agreements as well as CRO and CMO contracts.

12.3	Fair Values

Fair values of cash and cash equivalents, trade receivables, trade payables and other current financial assets and liabilities approximate their carrying amounts as of December 31, 2020, largely due to the short-term maturities of these instruments.

The liabilities measured at amortized cost include four fixed-interest rate loans as well as a recently issued convertible note. As of December 31, 2020, the carrying value approximates their fair values as there have been no significant changes in relevant interest rates since the inception of the respective loans and note.

The fair values of financial instruments measured at fair value are reassessed on a quarterly basis. The valuation technique used for measuring the fair value of the embedded derivative is based on significant observable inputs (Level 2).

During the year ended December 31, 2020, the fair value adjustment derived from remeasuring the embedded derivative was recognized as finance expenses in profit or loss and amounted to €17.3 million. The initial fair value of the contingent consideration determined at acquisition remains valid since no changes of the underlying performance criteria have occurred.

12.4	Financial Instruments Risk Management Objectives and Policies

The Group’s financial liabilities comprise of bank loans, lease liabilities, trade and other payables as well as the recently issued convertible note. 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 Management Board oversees the management of these risks.

The controlling committee provides assurance to the Group’s Management Board 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 Management Board 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 of December 31, 2020 and December 31, 2019.

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, 2020	December 31, 2019
U.S. dollar Bank accounts	€673,545	€213,913
Other financial assets in U.S. dollar	85,573	-
Financial liabilities in U.S. dollar	72,821	-
Total	€686,297	€213,913

The following tables demonstrate the sensitivity to a reasonably possible change in U.S. dollar 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	2020	2019	2020	2019
U.S. dollar	United States	1.2271	1.1234	1.1422	1.1195

(in thousands)	Change in U.S. dollar rate	Effect on loss before tax	Effect on pre-tax equity
2020	+5 %	€(32,491)	€(32,681)
2020	-5%	€35,911	€36,121
2019	+5 %	€(10,186)	€(10,186)
2019	-5%	€11,259	€11,259

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 as well as governments which are BioNTech’s customers established in connection with progressing the commercial activities of the Group with respect to BioNTech’s COVID-19 vaccine. 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 BioNTech.

As of December 31, 2020, the outstanding trade receivables were mainly due from BioNTech’s collaboration partner Pfizer as well as the German government. To a smaller extent, BioNTech’s other customers are medical universities, other public institutions and peers in the biopharma industry, which all have a very high credit rating. Due to this customer portfolio, the credit risk on trade receivables and contract assets is very low. BioNTech has not incurred bad debt expense and does not expect that this will change with respect to the trade receivables recognized as of December 31, 2020.

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 expected credit risk on trade accounts receivables and other financial assets was estimated to be not material as of December 31, 2020 as well as December 31, 2019. The Group does not hold collateral as security.

Cash and Cash Equivalents

Credit risk from balances with banks and financial institutions is managed by the Group’s controlling department in accordance with the Group’s policy.

Credit risk stemming from cash and cash equivalents is very low due to its demand feature and the high credit rating of the respective banks.

The Group’s maximum exposure to credit risk for the components of the consolidated statements of financial position as of December 31, 2020 and December 31, 2019 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 Board, 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 affected similarly 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, 2020
(in thousands)	Less than 1 year	1 to 5 years	More than 5 years	Total
Interest bearing loans and borrowings	€3,173	€12,643	€66,730	€82,546
Trade and other payables	102,288	-	-	€102,288
Lease liabilities	8,525	27,283	71,780	€107,588
Contingent consideration	-	-	572	€572
Other financial liabilities	74,076	-	-	€74,076
Total	€188,062	€39,926	€139,082	€367,070

The mandatory convertible note, which was issued during the year ended December 31, 2020 and which is expected to be settled in equity is excluded from the table above.

12.8	Changes in Liabilities arising from Financing Activities

Year ended December 31, 2020
(in thousands)	January 1, 2020	Cash flows	Acquisition of subsidiaries and businesses	New leases and disposals	Reclassification	Other	December 31, 2020
Current obligations under lease contracts	€3,485	€(12,743)	€2,719	€8,684	€3,982	-	€6,127
Non-current obligations under lease contracts	54,126	-	32,331	(4,444)	(3,982)	-	78,031
Interest-bearing loans and borrowings	16,600	140,847	-	-	-	(1,416)	156,031
Convertible note - embedded derivative	-	13,614	-	-	-	17,289	30,903
Total	€74,211	€141,718	€35,050	€4,240	-	€15,873	€271,092

Year ended December 31, 2019
(in thousands)	January 1, 2019	Cash flows	Acquisition of subsidiaries and businesses	New leases and disposals	Reclassification	Other	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	-	-	8,436	(2,928)	-	54,126
Interest-bearing loans and borrowings	5,600	11,000	-	-	-	-	16,600
Total	€56,352	€7,939	-	€9,920	-	-	€74,211

Inventories

12 Months Ended

Dec. 31, 2020

Classes Of Inventories [Abstract]

Inventories

13	Inventories

(in thousands)	December 31, 2020	December 31, 2019
Raw materials and supplies	€44,283	€8,201
Unfinished goods	19,380	2,888
Finished goods	457	633
Total	€64,120	€11,722

BioNTech has not pledged any inventories as securities for liabilities.

Other Assets

12 Months Ended

Dec. 31, 2020

Miscellaneous Current Assets [Abstract]

Other Assets

14	Other Assets

(in thousands)	December 31, 2020	December 31, 2019
Prepayments on inventories	29,845	351
Prepayments related to CRO and CMO contracts	14,140	-
Sales tax receivable	4,155	7,536
Prepayments related to service contracts	3,825	-
Other	10,046	1,182
Total	€62,011	€9,069
Total current	60,966	9,069
Total non-current	1,045	-

Deferred Expenses

12 Months Ended

Dec. 31, 2020

Disclosure Of Deferred Expenses [Abstract]

Deferred Expenses

15	Deferred Expenses

(in thousands)	December 31, 2020	December 31, 2019
Deferred expenses from insurance contracts	€13,845	€1,758
Deferred expenses from CRO and CMO contracts	5,725	-
Other	8,431	4,104
Total	€28,001	€5,862
Total current	28,001	5,862
Total non-current	-	-

Issued Capital and Reserves

12 Months Ended

Dec. 31, 2020

Disclosure Of Classes Of Share Capital [Abstract]

Issued Capital and Reserves

16	Issued Capital and Reserves

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 consolidated financial statements and notes to the consolidated financial statements give retroactive effect to the share split for all periods presented.

Capital transactions during the year ended December 31, 2020

During the year ended December 31, 2020, the issued share capital of BioNTech increased by €14.0 million. Each share has a nominal value of €1.00. As a result of the financing transactions, treasury shares decreased by €0.7 million and capital reserve increased by €861.0 million. Costs of €33.2 million related to these equity transactions were recorded in equity as deduction from the capital reserve. The financing transactions that occurred during year ended December 31, 2020 were as follows:

Shanghai Fosun Pharmaceuticals (Group) Co., Ltd

As part of the BNT162 program, BioNTech entered a strategic alliance with Fosun Pharma to develop COVID-19 vaccine candidates in China. Fosun Pharma agreed to make an equity investment of €45.6 million ($50.0 million) for 1,580,777 ordinary shares in BioNTech via Fosun Industrial Co., Limited, Hong Kong. The increase in share capital with a nominal amount of €1.6 million was subject to execution of share subscription documentation and approval from regulatory authorities in China and became effective with the registration with the commercial register (Handelsregister) on April 23, 2020. As a result of the transaction the capital reserve increased by €44.0 million.

Pfizer Inc., New York, New York, United States

As part of the collaboration between BioNTech and Pfizer, for the co-development of BNT162, Pfizer agreed to make an equity investment of €103.9 million ($113.0 million). The issuance of 2,377,446 ordinary shares with the nominal amount of € 2.4 million was registered with the commercial register (Handelsregister) on May 5, 2020. As a result of the transaction the capital reserve increased by €101.5 million.

Neon Therapeutics, Inc., Cambridge, Massachusetts, United States

BioNTech acquired Neon by issuing 1,935,488 ADS representing BioNTech’s ordinary shares with the nominal amount of € 1.9 million to former stockholders of Neon in the Merger. The capital increase was registered with the commercial register (Handelsregister) on May 8, 2020. As a result of the transaction the capital reserve increased by €87.6 million.

Global Offering

On July 27, 2020 BioNTech increased its share capital by €5.5 million ($6.4 million) in conjunction with the underwritten offering of 5,500,000 ADS each representing one of BioNTech’s ordinary shares at a public offering price of $93.00 per ADS (“Underwritten Offering”). On August 27, 2020, following the Underwritten Offering, BioNTech increased its share capital by additional €16 thousand ($19 thousand) in conjunction with the rights offering of 16,124 ADS each representing one of BioNTech’s ordinary shares at a public offering price of $93.00 per ADS (“Rights Offering”). The Underwritten Offering and the Rights Offering are part of a single, global offering which BioNTech refers to as the Global Offering. The gross proceeds of the Global Offering were €436.3 million ($513.0 million) including €5.5 million increase in share capital and €430.8 million increase in capital reserve.

June 2020 Private Placement – Equity Investment

A fund associated with Temasek Capital Management Pte. Ltd., or Temasek, and another accredited investor, contributed a private investment. The private placement includes an investment in a 4-year mandatory convertible note (see Note 12) and an investment of €123.9 million in ordinary shares. The issuance of 2,595,996 ordinary shares with the nominal amount of € 2.6 million was registered with the commercial register (Handelsregister) on September 8, 2020. As result of the transaction the capital reserve increased by €121.3 million.

At-The-Market Offering Program

In November 2020, BioNTech entered into a sales agreement (“Sales Agreement”) with Jefferies LLC and SVB Leerink LLC, as sales agents, to establish an at-the-market offering program, pursuant to which BioNTech may sell, from time to time, ADS representing ordinary shares for aggregate gross proceeds of up to $500.0 million. During the year ended December 31, 2020, BioNTech sold 735,490 ADSs, each representing one of its ordinary shares that had previously been held in treasury, under the Sales Agreement for aggregate gross proceeds of €76.5 million ($92.9 million). Re-issuing 735,490 ordinary shares was registered as decrease of €0.7 million in treasury shares. As a result of the transaction the capital reserve increased by €75.8 million.

Capital transactions during the year ended December 31, 2019

During the year ended December 31, 2019, the issued share capital of BioNTech increased by €39.0 million. Each share has a nominal value of €1.00. As a result of the financing transactions the capital reserve increased by €359.2 million. Costs of €16.6 million related to these equity transactions were recorded in equity as deduction from the capital reserve.

In January 2019, BioNTech issued 5,088,204 shares and increased its share capital by €5.1 million. The cash investment of €80.0 million was received in 2018.

As of March 14, 2019, BioNTech acquired the remaining 5.5% of non-controlling interests in BioNTech Cell & Gene Therapies GmbH previously held by Eli Lilly Nederland B.V. in exchange for issuing 2,374,794 new ordinary shares with an imputed nominal value of €1.00 each. This acquisition was recognized within equity and resulted in the derecognition of the non-controlling interest of €0.7 million as well as an increase in share capital of €2.4 million. The net effect of the transaction of €1.6 million was recognized as a decrease in capital reserve.

Of the share capital issued in 2019, €12.5 million related to a new financing round (referred to as the Series B round). As part of the Series B round, 12,465,288 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) were issued to certain new and existing shareholders. As a result of the Series B round, the capital reserve increased by €186.1 million.

On August 30, 2019, BioNTech entered into agreements with the Bill & Melinda Gates Foundation under which BioNTech is required to perform certain research and development activities. The issuance of 3,038,674 ordinary shares with the nominal amount of €3.0 million was registered with the commercial register (Handelsregister) on September 26, 2019. As result of the transaction the capital reserve increased by €46.8 million.

On October 10, 2019, BioNTech increased its share capital by €10.0 million 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 €0.5 million 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 €143.3 million ($157.8 million) including €10.5 million increase in share capital and €132.7 million increase in capital reserve.

Share-based payments

12 Months Ended

Dec. 31, 2020

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

Share-based payments

17	Share-Based Payments

During the years ended December 31, 2020, December 31, 2019 and December 31, 2018, the Group had the following share-based arrangements.

17.1	BioNTech Employee Equity Plan (LTI and LTI-plus Program) (Equity-Settled)

In December 2020, BioNTech adopted the BioNTech Employee 2020 Equity Plan and the BioNTech 2020 Restricted Stock Unit Plan for North America Employees. Under the plans Restricted Cash Units, or RSUs, will be offered to employees based in Europe and the United States respectively. The plan to which employees based in Europe will be eligible, was communicated in December 2020. Since those employees obtained a valid expectation of the award as of the announcement date and started rendering services as of such date, BioNTech concluded that the service commencement date for the BioNTech Employee 2020 Equity Plan was December 17, 2020. This is the date as of which BioNTech started to recognize the expenses related to the services received. Since the BioNTech 2020 Restricted Stock Unit Plan for North America Employees had not been communicated in detail to employees based in the United States during the year ended December 31, 2020, no expenses have been recognized in the Consolidated Statements of Operations for the year ended December 31, 2020.

BioNTech Employee 2020 Equity Plan for employees based in Europe

Description of Share-Based Payments

The BioNTech Employee 2020 Equity Plan share-based payment transaction for employees based in Europe includes two programs, LTI and LTI-plus. The LTI program will be offered to all employees. The LTI-plus program intends to compensate employees who did not participate in the ESOP. Under both programs, RSUs will be offered to employees based in Europe. Both programs are classified as equity-settled because BioNTech has the ability to determine the method of settlement. The LTI will vest annually in equal installments after four years commencing on December 15, 2020. The LTI-plus will vest annually in equal installments after two years commencing on December 15, 2020. Moreover, the LTI-plus contains a non-vesting condition concerning 50% of the granted RSUs. These units will be awarded to the participant after the FDA fully approves BNT162b2.

Measurement of Fair Values

BioNTech estimates the grant date fair value of the awards for services received in advance of grant date based upon the share-price at the reporting date. The estimate is revised at subsequent reporting periods until the date of grant has been established (refer to Note 22). An estimate for the number of equity instruments for which service conditions are expected to be satisfied is calculated considering a retention assumption and will be revised in case material differences arise. Ultimately, a true-up to the number satisfied until Settlement Date will be recorded.

Reconciliation of Outstanding Share-Options

	Restricted Stock Units (expected to be allocated)	Share price (in €)
As of January 1, 2020	-	-
Expected to be allocated under LTI Program	252,766	66.43
Expected to be allocated under LTI-plus Program	396,938	66.43
As of December 31, 2020	649,704	66.43

Expense recognized in the Consolidated Statements of Operations

		Year ended December 31,
(in thousands)		2020
Cost of sales		€179
Research and development expenses		681
Sales and marketing expenses		8
General and administrative expenses		147
Total		€1,015

17.2	Management Board Grant (Cash-Settled)

Since the beginning of 2020, the first year following the completion of BioNTech’s initial public offering (“IPO”), the current service agreements with BioNTech’s Management Board have provided for a short-term incentive compensation of up to a maximum of fifty percent of the annual base salary for the years 2020, 2021 and 2022. The amount of such short-term incentive compensation will depend on the achievement of certain company goals in the particular fiscal year, which goals will be set uniformly for all members of the Management Board. Fifty percent of the incentive compensation will be paid promptly upon achievement of the applicable company goals (first installment), with the remaining amount payable one year later, subject to adjustment relative to the performance of the price of the American Depositary Shares representing BioNTech’s ordinary shares during that year (second installment).

For each of the three yearly awards, the second installment of the short-term incentive compensation that is dependent on the price of the American Depositary Shares representing BioNTech’s ordinary shares, represents a cash-settled share-based payment arrangement. The fair values of the liabilities are recognized over the award’s vesting period beginning as of the service commencement date (January 1, 2020) until each separate determination date and are remeasured until settlement date.

During the year ended December 31, 2020, the Group recognized share-based payment expenses of €0.3 million as research and development expenses and of €0.4 million as general and administrative expenses in the consolidated statements of operations and €0.7 million of other financial liabilities in the statements of financial position as of December 31, 2020.

17.3	Management Board Grant (Equity-Settled)

Description of Share-Based Payments

From the beginning of 2020, the first year following the completion of BioNTech’s IPO, until the end of the term of the Management Board member’s employment agreement, the service agreements with BioNTech’s Management Board provide for a long-term incentive compensation in terms of a yearly grant of options to purchase BioNTech shares. The right to receive options in 2020, 2021 and 2022 represents an equity-settled share-based payment arrangement.

The options allocated each year will be subject to the terms, conditions, definitions and provisions of the ESOP and the applicable option agreement thereunder. The number of options to be allocated each year to Prof. Ugur Sahin, Sean Marett, Dr. Sierk Poetting, Dr. Özlem Türeci and Ryan Richardson is to be calculated based on a value of €750,000, €300,000, €300,000, €300,000 and €260,000, respectively, in each case divided by the amount by which a certain target share price exceeds the exercise price. The value used to calculate the number of options for Ryan Richardson increases to €280,000 for the year 2022.

The allocation of the number of issued options in 2020 occurred as of February 13, 2020 (allocation date). As of December 31, 2020, the assessment about options expected to be granted in 2021 and 2022 was based on estimated allocation dates in the middle of the years 2021 and 2022, respectively.

The share options allocated and expected to be allocated to BioNTech’s Management Board as of the dates indicated are presented in the tables below.

	Share options (expected to be allocated)	Weighted-average exercise price (€)
As of January 1, 2020	-	-
Granted as of allocation date February 13, 2020	248,096	28.32
Expected to be allocated as of estimated allocation date 2021	101,422	67.26*
Expected to be allocated as of estimated allocation date 2022	102,463	67.27*
As of December 31, 2020	451,981	45.89

*Valuation parameter derived from the Monte-Carlo simulation model

For the awards with estimated allocation dates the numbers of options expected to be allocated have been derived from the Monte-Carlo simulation model. Those will be adjusted until the actual allocation has occurred and the number of options granted has ultimately been determined. The options will vest annually in equal installments over four years commencing on the first anniversary of the allocation date and will be exercisable four years after the allocation date.

The options will be subject to the terms, conditions, definitions and provisions of the ESOP and the applicable option agreement thereunder. The vested options 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 ordinary shares outstanding immediately following the initial public offering (other than ordinary 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 options expire 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 values at the (estimated) allocation dates of the Management Board Grant. This model incorporates the impact of the performance criteria regarding share price and index development described above. The parameters used for measuring the fair values as of the respective (estimated) allocation dates were as follows:

	Allocation date February 13, 2020	Estimated allocation date 2021	Estimated allocation date 2022
Weighted average fair value*	€10.83	€26.85	€26.61
Weighted average share price	€28.20	€ 66.43*	€ 66.43*
Exercise price	€28.32	€ 67.26*	€ 67.27*
Expected volatility (%)	36.6%	41.0%	40.7%
Expected life (years)*	4.75	5.01	6.05
Risk-free interest rate (%)	1.61 %	0.88%	0.88%

*Valuation parameter derived from the Monte-Carlo simulation model

The exercise of the option rights in accordance with the terms of the ESOP gives the Management Board members the right to obtain shares against payment of the exercise price. The per share exercise price of the options is the Euro equivalent of the arithmetic mean of the closing prices of the ten last trading days prior to the allocation date. For the award allocated as of February 13, 2020, the exercise price has been determined to be $30.78 (€28.32). For the awards with estimated allocation dates the exercise prices of options expected to be allocated have been derived from the Monte-Carlo simulation model. Those will be adjusted until the actual allocation has occurred and the exercise price has ultimately been determined. Expected volatility was based on an evaluation of the historical volatilities of comparable companies over the historical period commensurate with the expected option term. The expected term was based on general optionholder behavior for employee options.

Reconciliation of Outstanding Share-Options

The share options allocated and expected to be allocated under the Management Board Grant were as follows:

Allocation date February 13, 2020	Share options outstanding	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	97,420	28.32
Sean Marett	38,968	28.32
Dr. Sierk Poetting	38,968	28.32
Dr. Özlem Türeci, M.D.	38,968	28.32
Ryan Richardson	33,772	28.32

Estimated allocation date 2021	Share options outstanding (expected to be allocated)	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	39,826	67.26*
Sean Marett	15,930	67.26*
Dr. Sierk Poetting	15,930	67.26*
Dr. Özlem Türeci, M.D.	15,930	67.26*
Ryan Richardson	13,806	67.26*

*Valuation parameter derived from the Monte-Carlo simulation model

Estimated allocation date 2022	Share options outstanding (expected to be allocated)	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	39,817	67.27*
Sean Marett	15,927	67.27*
Dr. Sierk Poetting	15,927	67.27*
Dr. Özlem Türeci, M.D.	15,927	67.27*
Ryan Richardson	14,865	67.27*

*Valuation parameter derived from the Monte-Carlo simulation model

As of December 31, 2020, the share options allocated and expected to be allocated had a remaining weighted-average expected life of 4.63 years.

Expense recognized in the Consolidated Statements of Operations

The expenses recognized for employee services received during the periods indicated are shown in the following table:

		Year ended December 31,
(in thousands)		2020
Research and development expenses		€1,514
General and administrative expenses		1,246
Total		€2,760

17.4	Chief Executive Officer Grant (Equity-Settled)

Description of Share-Based Payments

In September 2019, BioNTech granted 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’ exercise price per share is the Euro translation of the public offering price from BioNTech’s initial public offering, €13.60 ($15.00). The option vests 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 is subject to the terms, conditions, definitions and provisions of the 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 up to 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 %

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

During the year ended December 31, 2020, no further options were granted or forfeited.

As of December 31, 2020, the share options outstanding had a remaining weighted-average expected life of 4.12 years.

Expense recognized in the Statement of Operations

During the year ended December 31, 2020, the Group has recognized €11.3 million of share-based payment expenses as research and development expenses in the consolidated statements of operations (during the year ended December 31, 2019: €3.2 million).

17.5	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 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 and can only be exercised if the company has executed a public offering in the United States (IPO) and when the Threshold Amount is met. 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 be forfeited 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

Set out below is an overview of changes to share options outstanding and number of ordinary shares underlying these options that occurred during the periods indicated:

	Share options outstanding	Number of ordinary shares underlying options	Weighted-average exercise price (€)
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
As of January 1, 2020	655,383	11,796,894	10.23
Forfeited	(9,491)	(170,838)	10.81
As of December 31, 2020	645,892	11,626,056	10.23

As of December 31, 2020, the share options outstanding had a remaining weighted-average expected life of 3.73 years.

The share options outstanding as of December 31, 2020 issued to the Management Board Grant were as follows:

	Share options outstanding	Number of ordinary shares underlying options	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	101,686	1,830,348	10.14
Sean Marett	33,895	610,110	10.14
Dr. Sierk Poetting	33,895	610,110	10.14
Dr. Özlem Türeci, M.D.	108,463*	1,952,334	10.14
Ryan Richardson**	8,306***	149,508	10.14

* Options fully vested on March 16, 2019, however these options will not become exercisable until September 16, 2022.

** Ryan Richardson was appointed to the Management Board as Chief Strategy Officer (CSO) and Managing Director on January 12, 2020. The share options granted on November 15, 2018 under the Employee Stock Ownership Plan were granted before his appointment to the Management Board.

*** Options fully vested on October 10, 2019, however these options will not become exercisable until September 16, 2022.

The expenses recognized for employee services received during the periods indicated are shown in the following table:

	Years ended December 31,
(in thousands)	2020	2019	2018
Cost of sales	€869	€896	€114
Research and development expenses	11,120	20,016	6,786
Sales and marketing expenses	111	108	13
General and administrative expenses	4,975	6,008	728
Total	€17,075	€27,028	€7,641

Other Liabilities

12 Months Ended

Dec. 31, 2020

Miscellaneous Current Liabilities [Abstract]

Other Liabilities

18	Other Liabilities

(in thousands)	December 31, 2020	December 31, 2019
Liabilities to employees	€24,248	€6,710
Other	4,379	780
Total	€28,627	€7,490
Total current	28,061	7,490
Total non-current	566	-

Leases

12 Months Ended

Dec. 31, 2020

Presentation Of Leases For Lessee [Abstract]

Leases

19.1	Amounts Recognized in the Consolidated Statements of Financial Position

Right-of-Use Assets

The following amounts are presented as right-of-use assets within the consolidated statements of financial position as of the dates indicated:

(in thousands)	December 31, 2020	December 31, 2019
Buildings	€80,875	€54,956
Equipment, tools and installations	3	7
Automobiles	108	55
Production facilities	7,202	-
Advance payments	10,800	-
Total	€98,988	€55,018

Additions to the right-of-use assets during the year ended December 31, 2020 were €22.1 million (during the year ended December 31, 2019: €10.0 million) including advanced payments of €10.8 million related to embedded leases under contract manufacturing agreements that not yet commenced. Since the advanced lease payments have already been settled, the amounts are not included in the lease liability presented below.

Lease Liability

The following amounts are included in interest-bearing loans and borrowings as of the dates indicated:

(in thousands)	December 31, 2020	December 31, 2019
Current	€6,127	€3,485
Non-current	78,031	54,126
Total	€84,158	€57,611

The Group has various lease contracts that have not yet commenced as of December 31, 2020. The future lease payments for these non-cancellable lease contracts are €2.8 million for the year 2021 and €10.2 million for the years 2022 and beyond.

Several lease contracts include extension and termination options. These options are negoiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. Management exercises significant judgement in determining whether these extension and termination options are reasonably certain to be exercised.

19.2	Amounts Recognized in the Consolidated Statements of Operations

Depreciation Charge of Right-of-Use Assets

	Years ended December 31,
(in thousands)	2020	2019	2018
Buildings	€4,628	€4,614	€2,751
Equipment, tools and installations	4	25	60
Automobiles	45	40	35
Production facilities	1,613	-	-
Total depreciation charge	€6,290	€4,679	€2,846

Interest on lease liabilities	€2,003	€1,718	€1,721
Expense related to short-term leases (included in other expenses)	875	442	431
Expense relating to leases of low-value assets that are not short-term leases (included in other expenses)	300	90	90
Total amounts recognized in profit or loss	€9,468	€6,929	€5,088

19.3	Amounts recognized in the Consolidated Statements of Cash Flows

During the year ended December 31, 2020, the total cash outflow for leases amounted to €14.7 million (during the year ended December 31, 2019: €4.8 million; during the year ended December 31, 2018: €2.3 million).

19.3	Extension Options

The Group has several lease contracts that include extension options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. The undiscounted potential future lease payments, which relate to periods after the exercise date of renewal options and are not included in lease liabilities, amount to up to €38.3 million until 2049.

Pensions

12 Months Ended

Dec. 31, 2020

Disclosure Of Information About Defined Benefit Plans [Abstract]

Pensions

20Pensions

In 2020, BioNTech adopted a defined benefit pension plan through the acquisition of BioNTech Manufacturing Marburg GmbH in Germany. The defined benefit pension plan is a final salary plan for German employees, which requires contributions to be made to a separately administered fund.

The pension plan is governed by the employment laws of Germany and consists of a funded base plan and a non-funded supplement plan. The base plan through Pensionskasse Hoechst is a multi-employer plan. Pensionskasse Hoechst is a legally independent insurance company that is subject to the Insurance Supervision Act (BaFin). Plan participants may elect to contribute a percentage of their income (between 1.5% and 2.5% of salary components up to the social security contribution ceiling). A €1.00 employee contribution results in an annual pension entitlement of €0.42. The aforementioned contributions include contributions to the Pensionskasse Höchst in the amount of €34 thousand. Contributions in the amount of €0.2 million are expected for the following financial year. Since the obligation of the sponsoring company is not limited to the payment of the contributions for the financial year, this is a multi-employer defined benefit plan, which is generally to be accounted for proportionally as such. However, pension fund benefits are financed in accordance with the financing methodology of the pension fund (Bedarfdeckungsverfahren). Consequently, the actuarial valuation is performed to determine the present valuate of future contributions based upon the present value of future benefit obligation less plan assets for all employers and the level of the pension fund portfolio, not at the level of an individual insurer’s risk. The calculation of the contribution rates is based on the future coverage of the total obligation, so that all sponsoring companies pay the same contribution rates. Accordingly, the portion of the base plan financed through Pensionskasse Hoechst is not accounted for as a defined benefit plan, but as a defined contribution plan. There are no minimum funding requirements. It is not possible to withdraw the funds from the multi-employer plan or to transfer them to another pension fund. It is not possible to withdraw from the pension fund. Upon expiry of the plan, any underfunding is to be made up by the employer and therefore recognized as liability in the consolidated statement of financial positions; any remaining surplus would be used for charitable purposes. Both plans have been closed so that no further employees can obtain entitlements.

Since the German Company Pension Act (Betriebsrentengesetz) applies to the pension obligation, the pensions are subject to adjustments at least every three years by the increase in the consumer price index or by the net wage development of comparable groups of employees. Therefore, the pension obligation is subject to inflation risk. In addition, there is longevity risk as the pensions are paid for life. Part of the obligations is also based on the level of salaries, so that the obligations will also increase if salaries develop more strongly than expected. Plan assets benefits from pension funds are offset. In this case, there is a risk that the external pension provider will not be able to provide the benefits to the extent expected and that the payments to be made directly by the employer will therefore increase.

The following table summarizes the defined benefit obligation recognized in non-current provisions:

(in thousands)		December 31, 2020
Base plan		€2,140
Supplement plan		2,125
Total		€4,265

The following table summarizes the components of net benefit expense recognized in the statement of profit or loss for both plans:

		Years ended December 31,
(in thousands)		2020
Service cost		€24
Net interest expense		6
Total		€30

The current service cost is included in the personnel expenses of the various functions of the respective employees, while the net interest is recognized in finance expenses or finance income.

The following table summarizes the components of remeasurements recognized in other comprehensive income for both plans:

		Years ended December 31,
(in thousands)		2020
Actuarial changes arising from changes in financial assumptions		€227
Experience adjustments		(17)
Total		€210

Set out below is an overview of changes to the defined benefit obligation during the period indicated for both plans:

(in thousands)		Defined benefit obligations
As of January 1, 2020		-
Acquisition of subsidiaries and businesses		(4,029)
Service cost		(24)
Net interest expense		(6)
Benefits paid		4
Actuarial changes arising from changes in financial assumptions		(227)
Experience adjustments		17
As of December 31, 2020		€(4,265)

The principal assumptions used in determining the defined benefit obligation for the Group’s plans are shown below:

		December 31, 2020
Discount rate		0.80%
Price inflation		2.00%
Rate of salary increase		2.50%
Pension increases for in-payment benefits		1.75%

Sensitivity analysis

The main actuarial assumptions that are used to calculate the provisions for post-employment benefits are the discount rate and the trend for future increases in post-employment benefit payments. A reasonably possible increase, or respective decrease, in the significant actuarial assumptions would have impacted the present value of the post-employment benefit obligations as of December 31, 2020 as shown below:

Quantitative sensitivity analysis
		December 31, 2020
Discount rate increase 0.25%		€(282)
Discount rate decrease 0.25%		309
Pension increases for in payment benefits 0.25%		475
Pension decreases for in payment benefits 0.25%		(447)

Duration

The average duration of the German obligations are 35.92 years for the base plan and 19.77 years for the supplement plan.

Expected benefit payments

The following are the expected payments or contributions to the plans in future years:

Expected payments or contributions in future years
(in thousands)		December 31, 2020
Less than 1 year		€29
1 to 5 years		317
More than 5 years		340
Total		€686

Related Party Disclosures

12 Months Ended

Dec. 31, 2020

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 is the sole shareholder of AT Impf GmbH, Munich, Germany and beneficial owner of ordinary shares in BioNTech. ATHOS KG via AT Impf GmbH has de facto control over BioNTech based on its substantial shareholding, which enabled it to exercise the majority of voting rights to pass resolutions at BioNTech’s Annual General Meeting, or AGM.

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
	Years ended December 31,
(in thousands)	2020	2019	2018
Short-term employee benefits incurred	€2,627	€1,847	€1,161
Short-term employee benefits accrued*	740	-	-
Share-based payments	20,700**	18,151	6,163
Total compensation paid to key management personnel	€24,067	€19,998	€7,324

Includes the fair value of the second installment of the short-term incentive compensation, which has been classified as cash-settled share-based payment arrangement was determined pursuant to the regulations of IFRS 2 “Share-based Payments”. This table shows the pro-rata share of personnel expenses for the respective financial year that are recognized over the award’s vesting period beginning as of the service commencement date (January 1, 2020) until each separate determination date and are remeasured until settlement date.

Includes expenses from a bonus arrangement agreed with Ryan Richardson in advance of his appointment to the Management Board. During the year ended December 31, 2020, the arrangement was modified from an all-equity share-based payment arrangement into a partly cash and partly equity settled share-based payment arrangement including 4,534 ordinary shares which have not yet been issued.

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).

Management Board members participate in the Group’s ESOP program (see Note 17).

Key Management Personnel Transactions

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

The Group purchases various goods and services from Translationale Onkologie an der Universitätsmedizin der Johannes Gutenberg-Universität Mainz gemeinnützige GmbH, or TRON, an institute which was co-founded by Prof. Ugur Sahin, M.D., the co-founder and Chief Executive Officer of BioNTech. Prof. Ugur Sahin, M.D. served as Managing Director at TRON until September 10, 2019 and currently serves as scientific advisor at TRON and as a Professor of Medicine at the University of Mainz. 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:

	Years ended December 31,
(in thousands)	2020	2019	2018
Consulting services / patent assignment	€25	€56	€25
Purchases of various goods and services from TRON	10,105	9,968	11,160
Total	€10,130	€10,024	€11,185

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

(in thousands)	December 31, 2020	December 31, 2019
Consulting service provider	€7	-
TRON	1,229	1,843
Total	€1,236	€1,843

21.3	Other Related Party Transactions

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

	Years ended December 31,
(in thousands)	2020	2019	2018
Purchases of various goods and services from entities controlled by ATHOS KG	€2,296	€2,071	€2,431
Purchases of property and other assets from entities controlled by ATHOS KG	2,349	-	4,748
Total	€4,645	€2,071	€7,179

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,

2020

December 31,

2019

ATHOS KG

€500

€51

Total

€500

€51

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, 2020

Disclosure Of Events After Reporting Period [Abstract]

Events After the Reporting Period

22	Events After the Reporting Period

On February 12, 2021, BioNTech and Pfizer announced that the U.S. government has exercised its option to purchase an additional 100 million doses of the Pfizer-BioNTech COVID-19 vaccine. This brings the total number of doses to be supplied by the companies to the U.S. government to 300 million.

On February 17, 2021, BioNTech and Pfizer announced an agreement with the European Commission (EC) to supply an additional 200 million doses of COVID-19 vaccine to the 27 European Union member states. The EC has the option to request supply of an additional 100 million doses.

In February 2021, RSUs under the BioNTech Employee 2020 Equity Plan were offered to employees based in Europe which determined the grant date fair value. Given that the share price had increased since the plan was established, a significant true-up in fair value occurred.

In February 2021, RSUs under the BioNTech 2020 Restricted Stock Unit Plan for North America Employees were offered to employees based in the United States. As from this date, BioNTech started recognizing expenses for this plan in the Consolidated Statements of Operations.

On March 12, 2021, BioNTech Turkey Tıbbi Ürünler Ve Klinik Araştirma Ticaret Anonim Şirketi, translates as BioNTech Turkey Pharmaceutical Products and Clinical Trials Trading JSC, Istanbul, Turkey, was founded and is a wholly-owned subsidiary of BioNTech SE.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Basis of Preparation

2.1	Basis of Preparation

General

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).

Segment Information

Basis of Consolidation

2.2	Basis of Consolidation

The consolidated financial statements comprise the financial statements of BioNTech SE 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

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

2.3.4

Revenue from Contracts with Customers

Revenue Recognition

If a contract with a customer contains more than one performance obligation, the transaction price is allocated to each performance obligation based on relative-stand-alone selling prices.

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 consolidated statements 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 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 consolidated statements 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
Production facilities		2-3
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
Software		3-8

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

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

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

•

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 consolidated statements 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.

Pension

2.3.15

Pension

Provisions

2.3.16

Provisions

Share-Based Payments

2.3.17

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).

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

In 2020 several new and amended standards and interpretations became effective but did not have an impact on the consolidated financial statements of the Group.

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
Amendment to IFRS 16 Leases COVID-19-Related Rent Concessions		June 1, 2020

Standard Issued but not yet Effective

2.5	Standard issued but not yet effective

Standards/Interpretations		Date of application
Amendments to IFRS 4 Insurance Contracts – deferral of IFRS 9		January 1, 2021
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2		January 1, 2021
Amendments to IFRS 3 Business Combinations: Reference to the Conceptual Framework		January 1, 2022
Amendments to IAS 16 Property, Plant and Equipment: Proceeds before Intended Use		January 1, 2022
Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets - Onerous Contracts – Cost of Fulfilling a Contract Amendments to IAS 37		January 1, 2022
Annual Improvements to IFRS Standards 2018-2020		January 1, 2022
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current - Deferral of Effective Date		January 1, 2023
IFRS 17 Insurance Contracts (issued on 18 May 2017); including Amendments to IFRS 17		January 1, 2023

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, 2020

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
Production facilities		2-3
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
Software		3-8

Significant Accounting Judgments, Estimates and Assumptions (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Accounting Judgements And Estimates [Abstract]

Schedule of Provisional Sales Figures for Territories


	Year ended December 31, 2020
(in thousands)	German territory	U.S. territory	Territories outside the U.S.	Total

Direct product sales to BioNTech customers	€ 20,553			€ 20,553
Share of collaboration partner's gross profit		€ 46,997	€ 141,480	€ 188,477
Input parameters used within gross profit share calculation
Sales		reported	preliminary reported
Transfer price (manufacturing, shipping costs and respective variances)		standard prices	standard prices
License payments		identified royalty rate	identified royalty rate

Group Information (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020	December 31, 2019
BioNTech RNA Pharmaceuticals GmbH	Germany	Mainz	100%	100%
BioNTech Delivery Technologies GmbH	Germany	Halle	100%	100%
BioNTech Diagnostics GmbH	Germany	Mainz	100%	100%
BioNTech Europe GmbH (previously BioNTech Small Molecules GmbH)	Germany	Mainz	100%	100%
BioNTech Manufacturing GmbH (previously BioNTech IVAC GmbH)	Germany	Mainz	100%	100%
BioNTech Manufacturing Marburg GmbH	Germany	Marburg	100%	n/a
BioNTech Austria Beteiligungen GmbH	Austria	Vienna	100%	100%
BioNTech Innovative Manufacturing Services GmbH	Germany	Idar-Oberstein	100%	100%
reSano GmbH (previously reBOOST Management GmbH)	Germany	Mainz	100%	100%
JPT Peptide Technologies GmbH	Germany	Berlin	100%	100%
JPT Peptide Technologies Inc.	United States	Cambridge (previously Acton)	100%	100%
BioNTech USA Holding, LLC	United States	Cambridge (previously New York)	100%	100%
BioNTech Research and Development, Inc.	United States	Cambridge (previously New York)	100%	100%
BioNTech US Inc.	United States	Cambridge	100%	n/a
BioNTech Pharmaceuticals Asia Pacific Pte. Ltd	Singapore	Singapore	100%	n/a
BioNTech UK Limited	United Kingdom	Reading	100%	n/a
BioNTech Cell & Gene Therapies GmbH	Germany	Mainz	100%	100%
BioNTech Real Estate Holding GmbH	Germany	Holzkirchen	100%	100%
BioNTech Real Estate Verwaltungs GmbH	Germany	Holzkirchen	100%	100%
BioNTech Real Estate GmbH & Co. KG	Germany	Holzkirchen	100%	100%
BioNTech Real Estate An der Goldgrube GmbH & Co. KG	Germany	Holzkirchen	100%	n/a
BioNTech Real Estate Haus Vier GmbH & Co. KG	Germany	Holzkirchen	100%	n/a
BioNTech Real Estate Adam Opel Straße GmbH & Co. KG	Germany	Holzkirchen	100%	n/a

Summary of Information about Parent Company

Ownership of ordinary shares in BioNTech (in %)

Name

Country of incorporation

Registered office

December 31,

2020

December 31,

2019

AT Impf GmbH

Germany

Munich

47.37%

50.33%

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,

2020

December 31,

2019

Medine GmbH

Germany

Mainz

17.25%

18.38%

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Business Combinations [Line Items]

Summary of Reconciliation of Goodwill

The reconciliation of this carrying amount at the beginning and end of the reporting period is presented below:

(in thousands)	Goodwill
As of January 1, 2020	€2,978
Acquisition of subsidiaries and businesses	57,469
Currency differences	(6,750)
As of December 31, 2020	€53,697

Lipocalyx GmbH

Disclosure Of Business Combinations [Line Items]

Summary of Fair Values of Identifiable Net Assets

The final fair values of the identifiable net assets of Lipocalyx as at the date of acquisition were:

	Fair value recognized on acquisition
(in thousands)	Lipocalyx GmbH
Assets
Goodwill	€896
Other intangible assets	5,978
Property, plant and equipment	75
Inventories	139
Total identifiable net assets at fair value	€7,088

Consideration
Cash paid	€6,516
Contingent consideration liability	572
Total consideration	€7,088

BioNTech US Inc.

Disclosure Of Business Combinations [Line Items]

Summary of Fair Values of Identifiable Net Assets

The fair values and values in accordance with IFRS 3 of the identifiable net assets of BioNTech US Inc. as at the date of acquisition were as follows:

	Fair value recognized on acquisition
(in thousands)	BioNTech US Inc.
Assets
Intangible assets	€29,867
Property, plant and equipment	5,617
Right-of-use assets	6,896
Other assets non-current and current	2,704
Cash and cash equivalents	7,749
Total assets	€52,833

Liabilities
Trade payables	1,723
Other liabilities non-current and current	17,793
Total liabilities	€19,516

Total identifiable net assets at fair value	€33,317

Goodwill from the acquisition	56,573
Consideration transferred	€89,890

Consideration
Shares issued, at fair value	89,548
Cash paid	342
Total consideration	€89,890

BioNTech Manufacturing Marburg GmbH

Disclosure Of Business Combinations [Line Items]

Summary of Fair Values of Identifiable Net Assets

The fair values and values in accordance with IFRS 3 of the identifiable net assets of BioNTech Manufacturing Marburg GmbH, or BioNTech Marburg, as at the date of acquisition were as follows:

	Fair value recognized on acquisition
(in thousands)	BioNTech Manufacturing Marburg GmbH
Assets
Property, plant and equipment	79,828
Right-of-use assets	28,514
Inventories	2,466
Other assets non-current and current	4,343
Cash and cash equivalents	16,319
Total assets	€131,470

Liabilities
Provisions non-current and current	5,127
Trade payables	8,105
Other liabilities non-current and current	33,383
Total liabilities	€46,615

Total identifiable net assets at fair value	€84,855

Bargain purchase	(7,002)
Consideration transferred	€77,853

Consideration
Cash paid	77,853
Total consideration	€77,853

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Revenue From Contracts With Customers [Abstract]

Summary of Disaggregation of Revenues from Contracts with Customers

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

	Years ended December 31,
(in thousands)	2020	2019	2018
Research & development revenues from collaborations	€178,849	€84,428	€101,837
Pfizer Inc.	121,597	14,348	7,173
Genentech Inc.	49,195	64,026	49,536
Shanghai Fosun Pharmaceutical (Group) Co., Ltd	5,074	-	-
Other	2,983	6,054	45,128
Commercial revenues	303,476	24,161	25,738
COVID-19 vaccine revenues	270,490	-	-
Sales to collaboration partner*	61,460	-	-
Direct product sales to BioNTech customers	20,553	-	-
Share of collaboration partner's gross profit	188,477	-	-
Other sales	32,986	24,161	25,738
Total	€482,325	€108,589	€127,575

*Represents sales to collaboration partner of products manufactured by BioNTech.

The revenues from contracts with customers disclosed above were recognized as follows:

	Years ended December 31,
(in thousands)	2020	2019	2018
Timing of revenue recognition
Goods and services transferred at a point in time	€108,840	€16,955	€22,828
Goods and services transferred over time	373,485	91,634	104,747
Total	€482,325	€108,589	€127,575

Summary of Contract Balances

(in thousands)

December 31,

2020

December 31,

2019

Trade receivables

€165,468

€11,913

Contract liabilities

371,475

190,692

Summary of Revenue Recognized

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

Years ended

December 31,

(in thousands)

2020

2019

2018

Amounts included in contract liabilities at the beginning of the year

€58,895

€84,112

€59,583

Summary of Contract Liabilities Allocated to Remaining Performance Obligations (Unsatisfied or Partially Unsatisfied)

The contract liabilities allocated to the remaining performance obligations from collaboration or commercial supply agreements (unsatisfied or partially unsatisfied) as at year-end are as follows:

(in thousands)	December 31, 2020	December 31, 2019
Within one year	€299,583	€93,583
More than one year	71,892	97,109
Total	€371,475	€190,692

Income and Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Research and Development Expenses

Cost of Sales

	Years ended December 31,
(in thousands)	2020	2019	2018
Cost of sales related to COVID-19 vaccine revenues	€35,616	-	-
Cost related to other sales	23,717	17,361	13,690
Total	€59,333	€17,361	€13,690

	Years ended December 31,
(in thousands)	2020	2019	2018
Purchased services	€359,880	€65,552	€42,079
Wages, benefits and social security expense	126,298	83,213	45,668
Laboratory supplies	107,792	37,218	22,921
Depreciation and amortization	30,192	27,533	18,312
IT costs	5,118	3,800	1,572
Lease and lease related cost	3,725	2,527	2,404
Transport costs	2,135	1,081	668
Other	9,889	5,542	9,416
Total	€645,029	€226,466	€143,040

Sales and Marketing Expenses

	Years ended December 31,
(in thousands)	2020	2019	2018
Purchased services	€10,929	€247	€794
Wages, benefits and social security expense	1,636	1,938	1,728
Other	1,947	533	519
Total	€14,512	€2,718	€3,041

General and Administrative Expenses

	Years ended December 31,
(in thousands)	2020	2019	2018
Wages, benefits and social security expense	€33,007	€19,122	€8,582
Purchased services	26,022	6,419	5,177
IT and office equipment	7,404	4,573	3,774
Depreciation and amortization	5,104	4,855	2,284
Insurance premiums	4,840	1,061	145
Job advertisement expenses	2,897	548	861
Lease and lease related cost	2,390	1,715	1,012
Research services	2,033	232	26
Laboratory supplies	1,191	785	456
Contract staffing	1,108	686	781
Other	8,053	5,551	3,236
Total	€94,049	€45,547	€26,334

Other Operating Income

	Years ended December 31,
(in thousands)	2020	2019	2018
Government grants	€239,017	€1,547	€4,228
Bargain purchase	7,002	-	50
Other	4,520	1,177	1,118
Total	€250,539	€2,724	€5,396

Changes Regarding Government Grants

	Years ended December 31,
(in thousands)	2020	2019	2018
As of January 1	-	-	-
Received during the year	330,968	1,547	4,228
Released to the consolidated statements of operations	(239,017)	(1,547)	(4,228)
As of December 31	€91,951	-	-
Total current	91,951	-	-
Total non-current	-	-	-

Finance Income

	Years ended December 31,
(in thousands)	2020	2019	2018
Interest income	€1,564	€1,781	€1,996
Foreign exchange gains, net	-	2,341	6,050
Total	€1,564	€4,122	€8,046

Finance Expenses

	Years ended December 31,
(in thousands)	2020	2019	2018
Amortization of financial instruments	€3,048	€326	€48
Fair value adjustments of financial instruments measured at fair value	17,289	-	-
Foreign exchange loss, net	42,609	-	-
Total	€62,946	€326	€48

Employee Benefits Expense

	Years ended December 31,
	2020	2019	2018
(in thousands)
Wages and salaries	€160,655	€98,568	€54,149
Social security costs	17,988	12,394	8,231
Pension costs	761	517	324
Total	€179,404	€111,479	€62,704

Income Tax (Tables)

12 Months Ended

Dec. 31, 2020

Major Components Of Tax Expense Income [Abstract]

Summary of Current and Deferred Tax Expense

The following table illustrates the current and deferred taxes for the periods indicated:

	Years ended December 31,
(in thousands)	2020	2019	2018
Current income taxes	€17	€(296)	€600
Deferred taxes	(161,034)	-	-
Other taxes	17	28	-
Income taxes	€(161,000)	€(268)	€600

Summary of Reconciliation of Expected Income Tax Benefit to Actual Income Tax Benefit

	Years ended December 31,
(in thousands)	2020	2019	2018
Loss before tax	€(145,802)	€(179,440)	€(47,662)

Expected tax benefit (based on BioNTech`s statutory tax rate of 30.79%, 2019: 30.78%, 2018: 30.99%)	44,891	55,240	14,776

Effects
Government grants exempted from taxes	14	48	28
Non-deductible expenses	(770)	(58)	(18)
Add-back for trade tax purposes	(595)	(110)	(96)
Non-tax effective bargain purchase	2,156	-	-
Non-recognition of tax effect on share-based payment expenses	(9,806)	(9,308)	-
Tax-effective equity transaction costs	10,229	5,121	-
Utilization of tax losses	-	-	1,165
Non-recognition of deferred taxes on tax losses and temporary differences	(12,961)	(51,197)	(13,634)
Recognition of deferred taxes on tax losses not recognized in prior periods	102,231	-	-
Recognition of deferred taxes on temporary differences not recognized in prior periods	26,241	192	-
Effect from lower foreign income tax rate	(1,304)	(102)	-
Adjustment prior year tax	(326)	316	-
Tax credit	1,059	-	-
Other effects	(59)	126	(2,821)
Income taxes	€161,000	€268	€(600)

Summary of Deferred Taxes

Deferred taxes for the periods indicated relate to the following:

Year ended December 31, 2020
(in thousands)	January 1, 2020	Recognized in P&L*	Recognized in OCI	Acquisition of subsidiaries and businesses	December 31, 2020
Fixed assets	€(655)	€(2,370)	-	€8,637	€5,612
Inventories	596	46	-	329	971
Leases	512	(5,091)	-	(14)	(4,593)
Contract liabilities	23,543	(174)	-	-	23,369
Interest-bearing loans and borrowings	-	(2,741)	-	195	(2,546)
Net employee defined benefit liabilities	-	169	(63)	698	804
Provisions	187	886	-	419	1,492
Other (incl. deferred expenses)	2,087	8,336	-	202	10,625
Tax loss carryforward / tax credit	109,764	41,660	-	24,280	175,704
Deferred Tax Assets Net (before valuation)	€136,034	€40,721	€(63)	€34,746	€211,438
Valuation Adjustment	(136,034)	120,313	-	(34,765)	(50,486)
Deferred Tax Assets Net (after valuation)	-	€161,034	€(63)	€(19)	€160,952

*Includes all changes in deferred taxes related to U.S. tax group other than those acquired in business combination

Year ended December 31, 2019
(in thousands)	January 1, 2019	Recognized in P&L	Recognized in OCI	Acquisition of subsidiaries and businesses	December 31, 2019
Fixed assets	€(90)	€(565)	-	-	€(655)
Inventories	-	596	-	-	€596
Leases	306	206	-	-	€512
Contract liabilities	28,441	(4,898)	-	-	€23,543
Provisions	134	53	-	-	€187
Other (incl. deferred expenses)	161	1,926	-	-	€2,087
Tax loss carryforward / tax credit	55,848	53,916	-	-	€109,764
Deferred Tax Assets Net (before valuation)	€84,799	€51,235	-	-	€136,034
Valuation Adjustment	(84,799)	(51,235)	-	-	(136,034)
Deferred Tax Assets Net (after valuation)	-	-	-	-	-

Summary of Accumulated Tax Losses

Accumulated tax losses of the German tax group, German entities not within the tax group and U.S. tax group for the periods indicated amount to the following:

	Years ended December 31,
(in thousands)	2020	2019	2018
Corporate Tax	€596,359	€356,044	€179,264
Trade Tax	513,561	352,341	176,425

	Years ended December 31,
(in thousands)	2020	2019	2018
Federal Tax Credits	€756	-	-
State Tax Credits	250	-	-

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

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)	2020	2019	2018
Gain (loss) attributable to ordinary equity holders of the parent for basic earnings	€15,198	€(179,056)	€(48,019)

Weighted average number of ordinary shares for basic EPS	235,442	211,499	190,710
Effects of dilution from share options	13,085	-	-
Weighted average number of ordinary shares adjusted for the effect of dilution	248,527	211,499	190,710

Earnings per share
in EUR
Basic and diluted, profit / (loss) for the period attributable to ordinary equity holders of the parent*	€0.06	€(0.85)	€(0.25)

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

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, 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	-	999	-	999
As of December 31, 2019	€29,469	€83,206	€29,652	€142,329
As of January 1, 2020	€29,469	€83,206	€29,652	€142,329
Additions	14,927	10,093	41,013	66,033
Disposals	(41)	(6,892)	(958)	(7,891)
Reclassifications	8,561	1,832	(10,391)	-
Currency differences	(52)	(638)	-	(690)
Acquisition of subsidiaries and businesses	8,400	54,817	22,302	85,519
As of December 31, 2020	€61,264	€142,418	€81,618	€285,300

(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, 2019	€6,472	€30,180	-	€36,652
Depreciation	1,854	10,861	-	12,715
Disposals	-	(79)	-	(79)
Reclassifications	-	-	-	-
Currency differences	-	(3)	-	(3)
As of December 31, 2019	€8,326	€40,959	-	€49,285
As of January 1, 2020	€8,326	€40,959	-	€49,285
Depreciation	2,074	13,753	-	15,827
Disposals	(41)	(6,683)	-	(6,724)
Reclassifications	-	-	-	-
Currency differences	(3)	(53)	-	(56)
As of December 31, 2020	€10,356	€47,976	-	€58,332

(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, 2019	€15,675	€43,433	€7,091	€66,200
As of December 31, 2019	€21,143	€42,247	€29,652	€93,044
As of December 31, 2020	€50,908	€94,442	€81,618	€226,968

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Intangible Assets [Abstract]

Summary of Detailed Information About Intangible Assets

(in thousands)	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
Acquisition costs	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
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	2,444	2,726	-	5,170
As of December 31, 2019	€2,978	€116,313	€2,403	€121,693
As of January 1, 2020	€2,978	€116,313	€2,403	€121,693
Additions	-	4,187	4,426	8,613
Disposals	-	(5,435)	(643)	(6,078)
Reclassifications	-	233	(233)	-
Currency differences	(6,750)	(3,897)	-	(10,647)
Acquisition of subsidiaries and businesses	57,469	35,845	-	93,314
As of December 31, 2020	€53,697	€147,246	€5,953	€206,895

(in thousands)	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
Cumulative depreciation and impairment charges	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
As of January 1, 2019	-	€15,842	-	€15,842
Depreciation	-	16,502	-	16,502
Disposals	-	(81)	-	(81)
Reclassifications	-	-	-	-
Currency differences	-	(3)	-	(3)
As of December 31, 2019	-	€32,260	-	€32,260
As of January 1, 2020	-	€32,260	-	€32,260
Depreciation	-	16,627	-	16,627
Disposals	-	(5,410)	-	(5,410)
Reclassifications	-	-	-	-
Currency differences	-	(72)	-	(72)
As of December 31, 2020	-	€43,405	-	€43,405

(in thousands)	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
Carrying amount	Goodwill	Concessions, licenses, in-process R&D and similar rights	Advance payments	Total
As of January 1, 2019	€534	€86,011	€1,497	€88,042
As of December 31, 2019	€2,978	€84,053	€2,403	€89,434
As of December 31, 2020	€53,697	€103,841	€5,953	€163,490

Summary of Goodwill Recognized

	CGU Immunotherapies		External Product Sales of JPT		Total
(in thousands)	As of December 31, 2020	As of December 31, 2019	As of December 31, 2020	As of December 31, 2019	As of December 31, 2020	As of December 31, 2019
Goodwill	€53,163	€2,444	€534	€534	€53,697	€2,978

Financial Assets and Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Financial Instruments [Abstract]

Summary of Cash and Cash Equivalents

(in thousands)

December 31,

2020

December 31,

2019

Cash and cash equivalents at banks and on hand

€1,210,209

€519,149

Total

€1,210,209

€519,149

Summary of Financial Assets at Amortized Cost

Financial assets at amortized cost
(in thousands)	December 31, 2020	December 31, 2019
Trade receivables	€165,468	€11,913
Other financial assets	137,234	1,680
Total	€302,702	€13,593
Total current	302,702	13,593
Total non-current	-	-

Summary of Financial Liabilities at Amortized Cost

Interest-bearing loans and borrowings
(in thousands)	Maturity	December 31, 2020	December 31, 2019
Lease liabilities		€84,158	€57,611
Convertible note - host contract	08/28/2024	87,457	-
3.50% € 50,000,000 secured bank loan	12/21/2026	47,176	-
2.15% € 10,000,000 secured bank loan	12/30/2027	9,032	9,000
2.08% € 9,450,000 secured bank loan	09/30/2028	8,877	7,600
1.90% € 3,528,892.48 secured bank loan	05/30/2039	3,489	-
Total		€240,189	€74,211
Total current		9,142	5,307
Total non-current		231,047	68,904

Other financial liabilities
(in thousands)	December 31, 2020	December 31, 2019
Derivatives not designated as hedging instrument
Convertible note - embedded derivative	€30,903	-
Financial liabilities at fair value through profit or loss
Contingent consideration	572	-
Total financial liabilities at fair value	€31,475	-

Other financial liabilities at amortized cost, other than interest-bearing loans and borrowings
Trade payables	102,288	20,498
Other financial liabilities	74,076	10,352
Total other financial liabilities at amortized cost, other than interest-bearing loans and borrowings	€176,364	€30,850

Total other financial liabilities	€207,839	€30,850
Total current	176,363	30,850
Total non-current	31,476	-

Total financial liabilities
(in thousands)	December 31, 2020	December 31, 2019
Interest-bearing loans and borrowings	€240,189	€74,211
Other financial liabilities	€207,839	€30,850
Total	€448,028	€105,061
Total current	185,505	36,157
Total non-current	262,523	68,904

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

Year ended December 31, 2020
(in thousands)	Less than 1 year	1 to 5 years	More than 5 years	Total
Interest bearing loans and borrowings	€3,173	€12,643	€66,730	€82,546
Trade and other payables	102,288	-	-	€102,288
Lease liabilities	8,525	27,283	71,780	€107,588
Contingent consideration	-	-	572	€572
Other financial liabilities	74,076	-	-	€74,076
Total	€188,062	€39,926	€139,082	€367,070

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, 2020	December 31, 2019
U.S. dollar Bank accounts	€673,545	€213,913
Other financial assets in U.S. dollar	85,573	-
Financial liabilities in U.S. dollar	72,821	-
Total	€686,297	€213,913

Summary of Effect of Changes in Foreign Exchange Rates

	1 € =	Closing rate		Average rate
Currency	Country	2020	2019	2020	2019
U.S. dollar	United States	1.2271	1.1234	1.1422	1.1195

(in thousands)	Change in U.S. dollar rate	Effect on loss before tax	Effect on pre-tax equity
2020	+5 %	€(32,491)	€(32,681)
2020	-5%	€35,911	€36,121
2019	+5 %	€(10,186)	€(10,186)
2019	-5%	€11,259	€11,259

Summary of Changes in Liabilities Arising From Financing Activities

Year ended December 31, 2020
(in thousands)	January 1, 2020	Cash flows	Acquisition of subsidiaries and businesses	New leases and disposals	Reclassification	Other	December 31, 2020
Current obligations under lease contracts	€3,485	€(12,743)	€2,719	€8,684	€3,982	-	€6,127
Non-current obligations under lease contracts	54,126	-	32,331	(4,444)	(3,982)	-	78,031
Interest-bearing loans and borrowings	16,600	140,847	-	-	-	(1,416)	156,031
Convertible note - embedded derivative	-	13,614	-	-	-	17,289	30,903
Total	€74,211	€141,718	€35,050	€4,240	-	€15,873	€271,092

Year ended December 31, 2019
(in thousands)	January 1, 2019	Cash flows	Acquisition of subsidiaries and businesses	New leases and disposals	Reclassification	Other	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	-	-	8,436	(2,928)	-	54,126
Interest-bearing loans and borrowings	5,600	11,000	-	-	-	-	16,600
Total	€56,352	€7,939	-	€9,920	-	-	€74,211

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Classes Of Inventories [Abstract]

Summary of Inventories

(in thousands)	December 31, 2020	December 31, 2019
Raw materials and supplies	€44,283	€8,201
Unfinished goods	19,380	2,888
Finished goods	457	633
Total	€64,120	€11,722

Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

Miscellaneous Current Assets [Abstract]

Summary of Other Assets

(in thousands)	December 31, 2020	December 31, 2019
Prepayments on inventories	29,845	351
Prepayments related to CRO and CMO contracts	14,140	-
Sales tax receivable	4,155	7,536
Prepayments related to service contracts	3,825	-
Other	10,046	1,182
Total	€62,011	€9,069
Total current	60,966	9,069
Total non-current	1,045	-

Deferred Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Deferred Expenses [Abstract]

Summary of Deferred Expenses

(in thousands)	December 31, 2020	December 31, 2019
Deferred expenses from insurance contracts	€13,845	€1,758
Deferred expenses from CRO and CMO contracts	5,725	-
Other	8,431	4,104
Total	€28,001	€5,862
Total current	28,001	5,862
Total non-current	-	-

Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2020

Employee Equity Plan

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

Schedule of Number and Share Price of Restricted Stock Units

Reconciliation of Outstanding Share-Options

	Restricted Stock Units (expected to be allocated)	Share price (in €)
As of January 1, 2020	-	-
Expected to be allocated under LTI Program	252,766	66.43
Expected to be allocated under LTI-plus Program	396,938	66.43
As of December 31, 2020	649,704	66.43

Schedule of Expense Recognized for Employee Services Received

Expense recognized in the Consolidated Statements of Operations

		Year ended December 31,
(in thousands)		2020
Cost of sales		€179
Research and development expenses		681
Sales and marketing expenses		8
General and administrative expenses		147
Total		€1,015

Management Board Grant

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

Schedule of Expense Recognized for Employee Services Received

The expenses recognized for employee services received during the periods indicated are shown in the following table:

		Year ended December 31,
(in thousands)		2020
Research and development expenses		€1,514
General and administrative expenses		1,246
Total		€2,760

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

The share options allocated and expected to be allocated to BioNTech’s Management Board as of the dates indicated are presented in the tables below.

	Share options (expected to be allocated)	Weighted-average exercise price (€)
As of January 1, 2020	-	-
Granted as of allocation date February 13, 2020	248,096	28.32
Expected to be allocated as of estimated allocation date 2021	101,422	67.26*
Expected to be allocated as of estimated allocation date 2022	102,463	67.27*
As of December 31, 2020	451,981	45.89

*Valuation parameter derived from the Monte-Carlo simulation model

The share options allocated and expected to be allocated under the Management Board Grant were as follows:

Allocation date February 13, 2020	Share options outstanding	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	97,420	28.32
Sean Marett	38,968	28.32
Dr. Sierk Poetting	38,968	28.32
Dr. Özlem Türeci, M.D.	38,968	28.32
Ryan Richardson	33,772	28.32

Estimated allocation date 2021	Share options outstanding (expected to be allocated)	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	39,826	67.26*
Sean Marett	15,930	67.26*
Dr. Sierk Poetting	15,930	67.26*
Dr. Özlem Türeci, M.D.	15,930	67.26*
Ryan Richardson	13,806	67.26*

*Valuation parameter derived from the Monte-Carlo simulation model

Estimated allocation date 2022	Share options outstanding (expected to be allocated)	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	39,817	67.27*
Sean Marett	15,927	67.27*
Dr. Sierk Poetting	15,927	67.27*
Dr. Özlem Türeci, M.D.	15,927	67.27*
Ryan Richardson	14,865	67.27*

*Valuation parameter derived from the Monte-Carlo simulation model

The share options outstanding as of December 31, 2020 issued to the Management Board Grant were as follows:

	Share options outstanding	Number of ordinary shares underlying options	Weighted-average exercise price (€)
Prof. Ugur Sahin, M.D.	101,686	1,830,348	10.14
Sean Marett	33,895	610,110	10.14
Dr. Sierk Poetting	33,895	610,110	10.14
Dr. Özlem Türeci, M.D.	108,463*	1,952,334	10.14
Ryan Richardson**	8,306***	149,508	10.14

* Options fully vested on March 16, 2019, however these options will not become exercisable until September 16, 2022.

*** Options fully vested on October 10, 2019, however these options will not become exercisable until September 16, 2022.

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

The parameters used for measuring the fair values as of the respective (estimated) allocation dates were as follows:

	Allocation date February 13, 2020	Estimated allocation date 2021	Estimated allocation date 2022
Weighted average fair value*	€10.83	€26.85	€26.61
Weighted average share price	€28.20	€ 66.43*	€ 66.43*
Exercise price	€28.32	€ 67.26*	€ 67.27*
Expected volatility (%)	36.6%	41.0%	40.7%
Expected life (years)*	4.75	5.01	6.05
Risk-free interest rate (%)	1.61 %	0.88%	0.88%

*Valuation parameter derived from the Monte-Carlo simulation model

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 %

Employee Stock Ownership Plan

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

Schedule of Expense Recognized for Employee Services Received

The expenses recognized for employee services received during the periods indicated are shown in the following table:

	Years ended December 31,
(in thousands)	2020	2019	2018
Cost of sales	€869	€896	€114
Research and development expenses	11,120	20,016	6,786
Sales and marketing expenses	111	108	13
General and administrative expenses	4,975	6,008	728
Total	€17,075	€27,028	€7,641

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

Set out below is an overview of changes to share options outstanding and number of ordinary shares underlying these options that occurred during the periods indicated:

	Share options outstanding	Number of ordinary shares underlying options	Weighted-average exercise price (€)
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
As of January 1, 2020	655,383	11,796,894	10.23
Forfeited	(9,491)	(170,838)	10.81
As of December 31, 2020	645,892	11,626,056	10.23

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%

Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Miscellaneous Current Liabilities [Abstract]

Summary of Other Liabilities

(in thousands)	December 31, 2020	December 31, 2019
Liabilities to employees	€24,248	€6,710
Other	4,379	780
Total	€28,627	€7,490
Total current	28,061	7,490
Total non-current	566	-

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Presentation Of Leases For Lessee [Abstract]

Summary of Right-of-Use Assets within Consolidated Statements of Financial Position

The following amounts are presented as right-of-use assets within the consolidated statements of financial position as of the dates indicated:

(in thousands)	December 31, 2020	December 31, 2019
Buildings	€80,875	€54,956
Equipment, tools and installations	3	7
Automobiles	108	55
Production facilities	7,202	-
Advance payments	10,800	-
Total	€98,988	€55,018

Summary of Lease Liability Included in Interest-Bearing Loans and Borrowings

The following amounts are included in interest-bearing loans and borrowings as of the dates indicated:

(in thousands)	December 31, 2020	December 31, 2019
Current	€6,127	€3,485
Non-current	78,031	54,126
Total	€84,158	€57,611

Summary of Amounts Recognized in Consolidated Statement of Operations

Depreciation Charge of Right-of-Use Assets

	Years ended December 31,
(in thousands)	2020	2019	2018
Buildings	€4,628	€4,614	€2,751
Equipment, tools and installations	4	25	60
Automobiles	45	40	35
Production facilities	1,613	-	-
Total depreciation charge	€6,290	€4,679	€2,846

Interest on lease liabilities	€2,003	€1,718	€1,721
Expense related to short-term leases (included in other expenses)	875	442	431
Expense relating to leases of low-value assets that are not short-term leases (included in other expenses)	300	90	90
Total amounts recognized in profit or loss	€9,468	€6,929	€5,088

Pensions (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Information About Defined Benefit Plans [Abstract]

Summary of Defined Benefit Obligation Recognized in Non-current Provisions

The following table summarizes the defined benefit obligation recognized in non-current provisions:

(in thousands)		December 31, 2020
Base plan		€2,140
Supplement plan		2,125
Total		€4,265

Summary of Components of Net Benefit Expense Recognized in Statement of Profit or Loss

The following table summarizes the components of net benefit expense recognized in the statement of profit or loss for both plans:

		Years ended December 31,
(in thousands)		2020
Service cost		€24
Net interest expense		6
Total		€30

Summary of Components of Remeasurements Recognized in Other Comprehensive Income

The following table summarizes the components of remeasurements recognized in other comprehensive income for both plans:

		Years ended December 31,
(in thousands)		2020
Actuarial changes arising from changes in financial assumptions		€227
Experience adjustments		(17)
Total		€210

Schedule of Changes to Defined Benefit Obligation

Set out below is an overview of changes to the defined benefit obligation during the period indicated for both plans:

(in thousands)		Defined benefit obligations
As of January 1, 2020		-
Acquisition of subsidiaries and businesses		(4,029)
Service cost		(24)
Net interest expense		(6)
Benefits paid		4
Actuarial changes arising from changes in financial assumptions		(227)
Experience adjustments		17
As of December 31, 2020		€(4,265)

Schedule of Principal Assumptions used in Determining Defined Benefit Obligations

The principal assumptions used in determining the defined benefit obligation for the Group’s plans are shown below:

		December 31, 2020
Discount rate		0.80%
Price inflation		2.00%
Rate of salary increase		2.50%
Pension increases for in-payment benefits		1.75%

Schedule of Quantitative Sensitivity Analysis

Quantitative sensitivity analysis
		December 31, 2020
Discount rate increase 0.25%		€(282)
Discount rate decrease 0.25%		309
Pension increases for in payment benefits 0.25%		475
Pension decreases for in payment benefits 0.25%		(447)

Schedule of Expected Payments or Contributions to Plans in Future Years

The following are the expected payments or contributions to the plans in future years:

Expected payments or contributions in future years
(in thousands)		December 31, 2020
Less than 1 year		€29
1 to 5 years		317
More than 5 years		340
Total		€686

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

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
	Years ended December 31,
(in thousands)	2020	2019	2018
Short-term employee benefits incurred	€2,627	€1,847	€1,161
Short-term employee benefits accrued*	740	-	-
Share-based payments	20,700**	18,151	6,163
Total compensation paid to key management personnel	€24,067	€19,998	€7,324

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

	Years ended December 31,
(in thousands)	2020	2019	2018
Consulting services / patent assignment	€25	€56	€25
Purchases of various goods and services from TRON	10,105	9,968	11,160
Total	€10,130	€10,024	€11,185

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

(in thousands)	December 31, 2020	December 31, 2019
Consulting service provider	€7	-
TRON	1,229	1,843
Total	€1,236	€1,843

Summary of Transactions Between Other Related Parties

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

	Years ended December 31,
(in thousands)	2020	2019	2018
Purchases of various goods and services from entities controlled by ATHOS KG	€2,296	€2,071	€2,431
Purchases of property and other assets from entities controlled by ATHOS KG	2,349	-	4,748
Total	€4,645	€2,071	€7,179

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,

2020

December 31,

2019

ATHOS KG

€500

€51

Total

€500

€51

Corporate Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020 Entity
Germany
Disclosure Of Corporate Information [Line Items]
Number of new real estate entities founded	3

Significant Accounting Policies - Additional Information (Details)	1 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2020 OperationSegment ReportingSegment Country	Sep. 30, 2020 OperationSegment	Dec. 31, 2020
Disclosure Of Summary Of Significant Accounting Policies [Abstract]
Number of operation segments \| OperationSegment	1	4
Number of reporting segment \| ReportingSegment	1
Minimum number of countries in which COVID-19 vaccine was authorized or approved for emergency or temporary use or granted conditional marketing authorization \| Country	65
Payment terms in contracts with customers			Payments from customers are due within 20 days (Europe) or 30 days (non-Europe) after invoice.

Significant Accounting Policies - Useful Lives Applied to the Group's Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
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, 2020
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 \| Production Facilities
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 \| Production Facilities
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items]
Right-of-use assets, Useful life (Years)	3 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, 2020
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
Minimum \| Software
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
Maximum \| Software
Disclosure Of Intangible Assets [Line Items]
Intangible assets, Useful life (Years)	8 years

Significant Accounting Judgments, Estimates and Assumptions - Additional Information (Details)	Dec. 31, 2020 EUR (€)
Significant Accounting Judgments Estimates And Assumptions [Abstract]
Estimated milestone payment to be received	€ 0

Significant Accounting Judgments, Estimates and Assumptions - Schedule of Provisional Sales Figures for Territories (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Significant Accounting Judgments Estimates And Assumptions [Line Items]
Revenue from contracts with customers	€ 482,325	€ 108,589	€ 127,575
Share of Collaboration Partner's Gross Profit
Significant Accounting Judgments Estimates And Assumptions [Line Items]
Revenue from contracts with customers	188,477
Direct Product Sales to BioNTech Customers
Significant Accounting Judgments Estimates And Assumptions [Line Items]
Revenue from contracts with customers	20,553
German Territory \| Direct Product Sales to BioNTech Customers
Significant Accounting Judgments Estimates And Assumptions [Line Items]
Revenue from contracts with customers	20,553
U.S. Territory \| Share of Collaboration Partner's Gross Profit
Significant Accounting Judgments Estimates And Assumptions [Line Items]
Revenue from contracts with customers	46,997
Territories Outside the U.S. \| Share of Collaboration Partner's Gross Profit
Significant Accounting Judgments Estimates And Assumptions [Line Items]
Revenue from contracts with customers	€ 141,480

Group Information - Summary of Information about Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
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
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Halle
% 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 Europe GmbH (previously 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 Manufacturing GmbH (previously BioNTech IVAC GmbH)
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	100.00%
BioNTech Manufacturing Marburg GmbH
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Marburg
% equity interest	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%
ReSano GmbH (previously reBOOST Management GmbH)
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
% equity interest	100.00%	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 Peptide Technologies Inc.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United States
Registered office	Cambridge (previously 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	Cambridge (previously New York)
% equity interest	100.00%	100.00%
BioNTech Research and Development Inc.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United States
Registered office	Cambridge (previously New York)
% equity interest	100.00%	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%	100.00%
BioNTech US Inc.
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United States
Registered office	Cambridge
% equity interest	100.00%
BioNTech Pharmaceuticals Asia Pacific Pte. Ltd
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Singapore
Registered office	Singapore
% equity interest	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 UK Limited
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	United Kingdom
Registered office	Reading
% equity interest	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%
BioNTech Real Estate Holding 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 An der Goldgrube GmbH & Co. KG
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Holzkirchen
% equity interest	100.00%
BioNTech Real Estate Haus Vier GmbH & Co. KG
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Holzkirchen
% equity interest	100.00%
BioNTech Real Estate Adam Opel Straße GmbH & Co. KG
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Holzkirchen
% equity interest	100.00%

Group Information - Additional Information (Details) - Entity	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Neon Therapeutics Inc. (subsequently renamed BioNTech US Inc.) and Novartis Manufacturing GmbH (subsequently renamed BioNTech Manufacturing Marburg GmbH)
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Number of entities acquired during the period	2
BioNTech USA Holding, LLC and BioNTech Research & Development, Inc. \| ReSano GmbH (previously 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, 2020	Dec. 31, 2019
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Munich
Ownership of ordinary shares in BioNTech	47.37%	50.33%

Group Information - Summary of Information about Entity with Significant Influence Over Group (Details) - BioNTech - Medine GmbH	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Country of incorporation	Germany
Registered office	Mainz
Ownership of ordinary shares in BioNTech	17.25%	18.38%

Business Combinations - Additional Information (Details) shares in Millions, $ in Millions					12 Months Ended
	Oct. 31, 2020 EUR (€)	May 06, 2020 EUR (€) NeoantigenTargetedTherapy shares	Jan. 06, 2020 EUR (€)	Jan. 01, 2020 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€)	May 06, 2020 USD ($) shares
Disclosure Of Business Combinations [Line Items]
Operating loss					€ (82,417,000)	€ (181,518,000)	€ (53,854,000)
Revenues					482,325,000	108,589,000	€ 127,575,000
Share capital					246,310,000	232,304,000
Lipocalyx GmbH
Disclosure Of Business Combinations [Line Items]
Name of acquiree			Lipocalyx GmbH
Cash consideration			€ 6,500,000			6,516,000
Date of acquisition			Jan. 06, 2020
Estimated contingent consideration			€ 600,000			572,000
Operating loss			(1,700,000)
Revenues			200,000
Transaction costs			€ 17,000
Lipocalyx GmbH \| Phase 1 Clinical Trial
Disclosure Of Business Combinations [Line Items]
Contingent cash consideration						1,000,000
Lipocalyx GmbH \| Phase 2 Clinical Trial
Disclosure Of Business Combinations [Line Items]
Contingent cash consideration						€ 1,000,000
BioNTech US Inc.
Disclosure Of Business Combinations [Line Items]
Cash consideration		€ 342,000
Operating loss				€ (59,800,000)	(28,500,000)
Revenues					0
Transaction costs		1,100,000
Aggregate value of merger consideration		€ 89,900,000						$ 97.1
American depositary shares \| shares		1,935,488						1,935,488
Deferred tax liabilities recognized		€ 8,000,000
Share capital		€ 1,300,000
BioNTech US Inc. \| In-process R&D
Disclosure Of Business Combinations [Line Items]
Intangible assets, number of neoantigen targeted therapies under development \| NeoantigenTargetedTherapy		2
BioNTech Manufacturing Marburg GmbH
Disclosure Of Business Combinations [Line Items]
Name of acquiree	Novartis Manufacturing GmbH
Cash consideration	€ 77,853,000
Date of acquisition	Oct. 31, 2020
Operating loss					(6,700,000)
Revenues					€ 0
Transaction costs	€ 1,400,000
Bargain purchase	€ 7,002,000

Business Combinations - Summary of Fair Values of Identifiable Net Assets (Details) - EUR (€) € in Thousands	Oct. 31, 2020	May 06, 2020	Jan. 06, 2020	Dec. 31, 2019
Lipocalyx GmbH
Assets
Goodwill				€ 896
Intangible assets				5,978
Property, plant and equipment				75
Inventories				139
Liabilities
Consideration transferred				7,088
Consideration
Cash paid			€ 6,500	6,516
Contingent consideration liability			€ 600	572
Total consideration				€ 7,088
BioNTech US Inc.
Assets
Goodwill		€ 56,573
Intangible assets		29,867
Property, plant and equipment		5,617
Right-of-use assets		6,896
Other assets non-current and current		2,704
Cash and cash equivalents		7,749
Total Assets		52,833
Liabilities
Trade payables		1,723
Other liabilities non-current and current		17,793
Total liabilities		19,516
Total identifiable net assets at fair value		33,317
Consideration transferred		89,890
Consideration
Shares issued, at fair value		89,548
Cash paid		342
Total consideration		€ 89,890
BioNTech Manufacturing Marburg GmbH
Assets
Property, plant and equipment	€ 79,828
Right-of-use assets	28,514
Inventories	2,466
Other assets non-current and current	4,343
Cash and cash equivalents	16,319
Total Assets	131,470
Liabilities
Provisions non-current and current	5,127
Trade payables	8,105
Other liabilities non-current and current	33,383
Total liabilities	46,615
Total identifiable net assets at fair value	84,855
Bargain purchase	(7,002)
Consideration transferred	77,853
Consideration
Cash paid	77,853
Total consideration	€ 77,853

Business Combinations - Summary of Reconciliation of Goodwill (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020 EUR (€)
Disclosure Of Business Combinations [Abstract]
As of January 1, 2020	€ 2,978
Acquisition of subsidiaries and businesses	57,469
Currency differences	(6,750)
As of December 31, 2020	€ 53,697

Revenue from Contracts with Customers - Summary of Disaggregation of Revenues from Contracts with Customers (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Goods and Services Transferred at a Point in Time

€ 482,325

€ 108,589

€ 127,575

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Goods and Services Transferred Over Time

108,840

16,955

22,828

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

373,485

91,634

104,747

Research & Development

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

178,849

84,428

101,837

Commercial

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

303,476

24,161

25,738

Pfizer Inc.

Pfizer Inc. | Research & Development

371,500

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

121,597

14,348

7,173

Genentech Inc

Genentech Inc | Research & Development

49,200

64,000

49,500

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Shanghai Fosun Pharmaceutical (Group) Co., Ltd | Research & Development

49,195

64,026

49,536

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Other | Research & Development

5,074

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

COVID-19 Vaccine Revenues | Commercial

2,983

6,054

45,128

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Sales To Collaboration Partner | Commercial

270,490

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Direct Product Sales to BioNTech Customers | Commercial

^[1]

61,460

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Share Of Collaboration Partners Gross Profit | Commercial

20,553

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]

188,477

Other Sales | Commercial

€ 32,986

€ 24,161

€ 25,738

[1]	Represents sales to collaboration partner of products manufactured by BioNTech.

Revenue from Contracts with Customers - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020 EUR (€) Country Customer	Dec. 31, 2019 EUR (€) Customer	Dec. 31, 2018 EUR (€) Customer
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Number of customers \| Customer	2	1	2
Revenues from contracts with customers	€ 482,325	€ 108,589	€ 127,575
Milestone payment recognized as revenue	51,800
Revenues derived from deferred upfront payments	52,100
Remaining upfront fees contract liabilities	131,800	187,600
Advance payment received for future COVID 19 vaccine sale	235,800
Research & Development
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	178,849	84,428	101,837
Revenue from collaboration	3,500
Non refundable upfront cash payment	66,300
Commercial
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 303,476	24,161	25,738
Conditional marketing authorization countries \| Country	65
Other Sales Transactions
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 33,000	24,200	25,700
Advance payments received on other sales	€ 3,900	3,100
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
Pfizer Inc.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 371,500
Pfizer Inc. \| Research & Development
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 121,597	14,348	7,173
Pfizer Inc. \| Minimum
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Percentage of revenue	10.00%
Genentech Inc
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 49,200	64,000	49,500
Genentech Inc \| Research & Development
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 49,195	€ 64,026	€ 49,536
Genentech Inc \| Minimum
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Percentage of revenue	10.00%	10.00%	10.00%
Sanofi S.A.
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers			€ 41,700
Sanofi S.A. \| Cellscript Sublicense
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers			€ 33,200
Percentage of reimbursement of sublicense costs			50.00%
Sublicense agreement date			Dec. 22, 2018
Sanofi S.A. \| Minimum
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Percentage of revenue			10.00%
Fosun Pharma \| Research & Development
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Non refundable upfront cash payment	€ 900
Milestone payment recognized as revenue	4,200
Revenues from Selling Drug Product Batches to Pfizer's Manufacturing Site \| Commercial
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	61,500
BioNTech \| Commercial \| Germany
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	20,600
BioNTech \| Bill and Hold Transaction
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers		€ 1,100
Revenue from Share of Collaboration Partner's Gross Profit \| Commercial
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenues from contracts with customers	€ 188,500

Revenue from Contracts with Customers - Summary of Contract Balances (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Trade receivables	€ 165,468	€ 11,913
Contract liabilities	€ 371,475	€ 190,692

Revenue from Contracts with Customers - Summary of Revenue Recognized (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Revenue From Contracts With Customers [Abstract]
Amounts included in contract liabilities at the beginning of the year	€ 58,895	€ 84,112	€ 59,583

Revenue from Contracts with Customers - Summary of Contract Liabilities Allocated to Remaining Performance Obligations (Unsatisfied or Partially Unsatisfied) (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	€ 371,475	€ 190,692
Unsatisfied Or Partially Unsatisfied
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	371,475	190,692
Within One Year \| Unsatisfied Or Partially Unsatisfied
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	299,583	93,583
More Than One Year \| Unsatisfied Or Partially Unsatisfied
Disclosure Of Performance Obligations [Line Items]
Contract liabilities	€ 71,892	€ 97,109

Income and Expenses - Cost of Sales (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income And Expenses [Line Items]
Costs of sales	€ 59,333	€ 17,361	€ 13,690
Commercial
Disclosure Of Income And Expenses [Line Items]
Costs of sales	59,333	17,361	13,690
Commercial \| COVID-19 Vaccine Revenues
Disclosure Of Income And Expenses [Line Items]
Costs of sales	35,616
Commercial \| Other Sales
Disclosure Of Income And Expenses [Line Items]
Costs of sales	€ 23,717	€ 17,361	€ 13,690

Income and Expenses - Research and Development Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	€ 645,029	€ 226,466	€ 143,040
Depreciation and Amortization
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	30,192	27,533	18,312
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	126,298	83,213	45,668
Laboratory Supplies
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	107,792	37,218	22,921
Purchased Services
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	359,880	65,552	42,079
Lease and Lease Related Cost
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	3,725	2,527	2,404
Other
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	9,889	5,542	9,416
IT Costs
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	5,118	3,800	1,572
Transport Costs
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	€ 2,135	€ 1,081	€ 668

Income and Expenses - Additional Information (Details) - EUR (€) € in Thousands		12 Months Ended
	May 06, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income And Expenses [Line Items]
Research and development expenses		€ 645,029	€ 226,466	€ 143,040
General and administrative expenses		94,049	45,547	26,334
Other operating income		250,539	2,724	5,396
Government grant		91,951
Foreign exchange gains			2,341	6,050
Foreign exchange losses		42,609
Expenses arising from fair value measurement adjustments of derivative embedded within convertible note		17,289
Germany
Disclosure Of Income And Expenses [Line Items]
Government grant		88,000
Grant by Bundesministerium fuer Bildung und Forschung (BMBF)
Disclosure Of Income And Expenses [Line Items]
Other operating income		239,017	1,547	€ 4,228
Grant by Bundesministerium fuer Bildung und Forschung (BMBF) \| Germany
Disclosure Of Income And Expenses [Line Items]
Other operating income		€ 238,900
General And Administrative Expenses
Disclosure Of Income And Expenses [Line Items]
Charge in connection with certain withholding tax payments for intellectual property licenses			€ 2,600
BioNTech US Inc.
Disclosure Of Income And Expenses [Line Items]
Research and development expenses	€ 21,000
General and administrative expenses	€ 7,400

Income and Expenses - Sales and Marketing Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	€ 14,512	€ 2,718	€ 3,041
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	1,636	1,938	1,728
Purchased Services
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	10,929	247	794
Other
Disclosure Of Income And Expenses [Line Items]
Sales and marketing expenses	€ 1,947	€ 533	€ 519

Income and Expenses - General and Administrative Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	€ 94,049	€ 45,547	€ 26,334
Wages, Benefits and Social Security Expense
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	33,007	19,122	8,582
Purchased Services
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	26,022	6,419	5,177
Lease and Lease Related Cost
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	2,390	1,715	1,012
Other
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	8,053	5,551	3,236
Insurance Premiums
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	4,840	1,061	145
Research Services
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	2,033	232	26
Laboratory Supplies
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	1,191	785	456
Job Advertisement Expenses
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	2,897	548	861
Contract Staffing
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	1,108	686	781
IT and Office Equipment
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	7,404	4,573	3,774
Depreciation and Amortization
Disclosure Of Income And Expenses [Line Items]
General and administrative expenses	€ 5,104	€ 4,855	€ 2,284

Income and Expenses - Other Operating Income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income And Expenses [Line Items]
Other operating income	€ 250,539	€ 2,724	€ 5,396
Government Grants
Disclosure Of Income And Expenses [Line Items]
Other operating income	239,017	1,547	4,228
Bargain Purchase
Disclosure Of Income And Expenses [Line Items]
Other operating income	7,002		50
Other
Disclosure Of Income And Expenses [Line Items]
Other operating income	€ 4,520	€ 1,177	€ 1,118

Income and Expenses - Changes Regarding Government Grants (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Government Grants [Abstract]
Received during the year	€ 330,968	€ 1,547	€ 4,228
Released to the consolidated statements of operations	(239,017)	€ (1,547)	€ (4,228)
As of December 31	91,951
Government grants	€ 91,951

Income and Expenses - Finance Income (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Foreign exchange gains, net

Interest income

€ 1,564

€ 1,781

€ 1,996

2,341

6,050

Total

^[1]

€ 1,564

€ 4,122

€ 8,046

[1]	Foreign exchange differences on a cumulative basis are shown either as finance income or expenses and might switch between those two positions during the year-to-date reporting periods.

Income and Expenses - Finance Expense (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Amortization of financial instruments

€ 3,048

€ 326

€ 48

Fair value adjustments of financial instruments measured at fair value

17,289

Foreign exchange loss, net

42,609

Total

^[1]

€ 62,946

€ 326

€ 48

[1]	Foreign exchange differences on a cumulative basis are shown either as finance income or expenses and might switch between those two positions during the year-to-date reporting periods.

Income and Expenses - Employee Benefits Expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Analysis Of Income And Expense [Abstract]
Wages and salaries	€ 160,655	€ 98,568	€ 54,149
Social security costs	17,988	12,394	8,231
Pension costs	761	517	324
Total	€ 179,404	€ 111,479	€ 62,704

Income Tax - Additional Information (Details) - EUR (€)	12 Months Ended
Income Tax - Additional Information (Details) - EUR (€)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Corporate income tax rate	15.00%
Solidarity surcharge rate	5.50%
Change in average trade tax rate	15.00%
Statutory tax rate	30.79%	30.78%	30.99%
Corporate income tax losses	€ 596,359,000	€ 356,044,000	€ 179,264,000
Trade tax losses	513,561,000	€ 352,341,000	€ 176,425,000
Deferred tax assets and liabilities, net recognized	160,952,000
Accumulated federal tax credits	756,000
Accumulated state tax credits	250,000
German Tax Group
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Corporate income tax losses	457,900,000
Trade tax losses	450,900,000
Deferred tax assets for unused tax losses recognized	0
Deferred tax assets and liabilities, net recognized	161,000,000
German Entities Not Within Tax Group
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Corporate income tax losses	1,700,000
Trade tax losses	1,800,000
Deferred tax assets for unused tax losses recognized	0
U.S. Tax Group
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Corporate income tax losses	136,800,000
Trade tax losses	60,900,000
Federal tax losses subject to expiration	€ 20,900,000
Federal tax losses expiration year	2033
Federal tax losses not subject to expiration	€ 115,900,000
State tax losses subject to expiration	€ 60,900,000
State tax losses expiration year	2033
BioNTech USA Holding LLC
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Statutory tax rate	21.00%
State income tax with average rate	8.10%

Income Tax - Summary of Current and Deferred Tax Expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Major Components Of Tax Expense Income [Abstract]
Current income taxes	€ 17	€ (296)	€ 600
Deferred taxes	(161,034)
Other taxes	17	28
Income taxes	€ (161,000)	€ (268)	€ 600

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income Tax - Summary of Reconciliation of Expected Income Tax Benefit to Actual Income Tax Benefit (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Major Components Of Tax Expense Income [Line Items]
Loss before tax	€ (145,802)	€ (179,440)	€ (47,662)
Expected tax benefit (based on BioNTech`s statutory tax rate of 30.79%, 2019: 30.78%, 2018: 30.99%)	44,891	55,240	14,776
Effects
Government grants exempted from taxes	14	48	28
Non-deductible expenses	(770)	(58)	(18)
Add-back for trade tax purposes	(595)	(110)	(96)
Non-tax effective bargain purchase	2,156
Non-recognition of tax effect on share-based payment expenses	(9,806)	(9,308)
Tax-effective equity transaction costs	10,229	5,121
Utilization of tax losses			1,165
Non-recognition of deferred taxes on tax losses and temporary differences	(12,961)	(51,197)	(13,634)
Effect from lower foreign income tax rate	(1,304)	(102)
Adjustment prior year tax	(326)	316
Tax credit	1,059
Other effects	(59)	126	(2,821)
Income taxes	161,000	268	€ (600)
Tax Losses
Effects
Recognition of deferred taxes not recognized in prior periods	102,231
Temporary Differences
Effects
Recognition of deferred taxes not recognized in prior periods	€ 26,241	€ 192

Income Tax - Summary of Reconciliation of Expected Income Tax Benefit to Actual Income Tax Benefit (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Major Components Of Tax Expense Income [Abstract]
Statutory tax rate	30.79%	30.78%	30.99%

Income Tax - Summary of Deferred Taxes (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

^[1]

€ 161,034

Recognized in OCI

(63)

(19)

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

160,952

Gross Carrying Amount

136,034

€ 84,799

40,721

^[1]

51,235

Recognized in OCI

(63)

34,746

Gross Carrying Amount | Fixed assets

211,438

136,034

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

(655)

(90)

(2,370)

^[1]

(565)

8,637

Gross Carrying Amount | Inventories

5,612

(655)

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

596

^[1]

596

329

Gross Carrying Amount | Leases

971

596

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

512

306

(5,091)

^[1]

206

(14)

Gross Carrying Amount | Contract liabilities

(4,593)

512

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

23,543

28,441

(174)

^[1]

(4,898)

Gross Carrying Amount | Interest-bearing loans and borrowings

23,369

23,543

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

^[1]

(2,741)

195

Gross Carrying Amount | Provisions

(2,546)

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

187

134

886

^[1]

419

Gross Carrying Amount | Net employee defined benefit liabilities

1,492

187

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

^[1]

169

Recognized in OCI

(63)

698

Gross Carrying Amount | Other (incl. deferred expenses)

804

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

2,087

161

8,336

^[1]

1,926

202

Gross Carrying Amount | Tax Loss Carryforward / Tax Credit

10,625

2,087

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

109,764

55,848

41,660

^[1]

53,916

24,280

Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]

175,704

109,764

Valuation Adjustment

(136,034)

(84,799)

120,313

^[1]

(51,235)

(34,765)