Germany biotechnology company BioNTech SE will establish a centre in Israel for the development and production of vaccines and drugs against cancer, the Israeli Finance Ministry said in a statement on Wednesday.

The new centre will be set up at the Har-Hotzvim Hi-Tech Park in northwest Jerusalem, in cooperation with the Israeli finance, health and economy ministries, together with the Jerusalem Municipality, Xinhua news agency reported.

The statement noted that the centre will focus on mRNA technologies for treating cancer, and enable better preparation for future pandemics, it added.

The German company will also establish an mRNA excellence centre in the central city of Ness Ziona, in cooperation with the nearby Weizmann Institute of Science.

The purpose of the excellence centre is to bring together scientists from Israel's research institutes and hospitals in the fields of life sciences, computer sciences, physics, chemistry, and more, to promote treatment for cancer, infectious diseases, and other diseases.