BioNTech SE (NASDAQ:BNTX) co-founders Ugur Sahin and Özlem Türeci plan to launch a new independent biotech company focused on next-generation mRNA technologies, the German vaccine developer said on Tuesday, as it intensifies its focus on oncology.

BioNTech said it will contribute certain related rights and technologies to the new venture in exchange for a minority stake, with potential milestone payments and royalties.

The company stressed that its current pipeline remains unchanged, and it still expects to have 15 ongoing Phase 3 oncology trials by the end of 2026. The co-founders are expected to transition to the new company by year-end.

The announcement weighed on BioNTech shares, which fell 21% in early trading.

In a separate filing, BioNTech reported a net loss of €1.14 billion ($1.33 billion) for 2025, compared with a loss of €665 million in 2024.

Despite continued investment in new drug development, the company ended 2025 with €17.2 billion in cash and financial securities, largely supported by the commercial success of its COVID-19 vaccine.