The husband-and-wife founders of German vaccine company BioNTech announced on Tuesday they would step down to pursue new innovations at a brand new firm.

BioNTech's CEO Ugur Sahin and chief medical officer Özlem Türeci pioneered mRNA vaccine technology in collaboration with US pharmaceutical giant Pfizer.

Their efforts resulted in the first COVID-19 vaccine to be approved in the West in 2021, for which they received numerous accolades including Germany's most prestigious medical award and the Order of Merit — Germany's highest honor.

"Özlem and I are ready to become pioneers once again," Sahin said in a statement on Tuesday.

"Our vision has always been to translate our science into meaningful advances for patients," he added.

New company to continue mRNA innovation

The new company will continue the couple's exploration of mRNA applications, they said.

mRNA technology, which functions differently from traditional vaccines, has been touted for its potential to fight a slew of diseases including influenza, malaria and HIV.

BioNTech will supply some patent rights to the new firm in exchange for a minority stake.

"We look forward to working together with their new company on potential combination therapy approaches," BioNTech's chairman Helmut Jeggle said.

BioNTech's stock price plummeted around 17% off the back of Tuesday's announcement that the founders would depart by the end of 2026.

The new venture will be the couple's Sahin and Türeci's third company. The couple founded Ganymed Pharmaceuticals in 2001 before starting BioNTech in 2008.

Edited by: Louis Oelofse