Boehringer Ingelheim acquires Nerio Therapeutics for $1.3 billion
Boehringer Ingelheim acquires Nerio Therapeutics for $1.3 billion
In a move to strengthen its immuno-oncology pipeline, Boehringer Ingelheim is acquiring Nerio Therapeutics for a total of up to $1.3 billion. “Securing the rights to Nerio Therapeutics’ novel checkpoint inhibitors creates a broad panel of exciting new cancer treatment combination opportunities. This brings us a major step closer to our vision of transforming the lives of people living with cancer,” said Paola Casarosa, Member of the Board of Managing Directors at Boehringer Ingelheim with responsibility for the Innovation Unit, in a company press release.
Nerio’s small molecules inhibit the protein tyrosine phosphatases N1 and N2 (PTPN1 and PTPN2), which act as immune checkpoints. Through this mechanism, PTPN1/2 inhibition can activate the immune system to fight cancer cells.
Sanford Madigan, partner at Avalon BioVentures, L.P. and co-founder and CEO of Nerio Therapeutics, adds, “We believe Nerio’s small molecule PTPN1/N2 inhibitors have superior drug-like properties and provide a first-in-class opportunity. We are excited to expand Boehringer Ingelheim’s pipeline and commend their commitment to unlock the full potential of our compounds and their mechanistically unique approach to fighting cancer.”
Read the full news release on Boehringer Ingelheim’s website.
