“This is a global pandemic, which requires a global effort. In joining forces with our partner Pfizer, we believe we can accelerate our effort to bring a COVID-19 vaccine to people around the world who need it,” said BioNTech cofounder and CEO Ugur Sahin, in a statement.

As a result, BioNTech’s share price has almost tripled in value since Friday, jumping from Friday’s closing price of $30 per share to $89.88 per share on Wednesday. The Struengmanns are the company’s largest shareholders with a combined 47% stake.