Boehringer Ingelheim buys Nerio Therapeutic for $1.3B
Nerio will help Boehringer to develop its preclinical immune program
Immune checkpoint blockade (ICB) is a treatment for cancer that involves the use of drugs, called immune checkpoint inhibitors (ICIs), to strengthen the immune system and help it destroy cancerous cells. It does this blocking proteins, called checkpoints, which can prevent T-cells from killing cancer cells; by blocking these checkpoints, ICIs allow T-cells to better kill cancer cells.
The problem with ICB is that, while it works for some patients, it doesn't work for everyone; German pharma giant Boehringer Ingelheim wants to change that, and so it announced its acquisition of Nerio Therapeutics, and its preclinical immune checkpoint inhibitor program, on Monday for $1.3 billion.
Founded in 2019, and based in La Jolla, California, Nerio Therapeutics' small molecules inhibit the protein tyrosine phosphatases N1 and N2 (PTPN1 and PTPN2), which act as immune checkpoints and that, through this mechanism, it can activate the immune system to fight cancer cells.
Developed in the Avalon BioVentures accelerator, the company had raised $6.5 million in funding from Avalon Ventures, as well as from a syndicate, including Bregua Corporation, Correlation Ventures, Alexandria Venture Investments, and Viva BioInnovator.
Boehringer Ingelheim, which was founded in 1885, has more than 53,500 employees serving over 130 markets.
With this acquisition, the company's is looking to develop a preclinical immune program "as a potential key centerpiece component" of its immuno-oncology portfolio with the goal of extending the benefits of immuno-oncology to more cancer patients.
In particular, the company sees Nerio’s small molecule inhibitors as "an important addition" thanks to their potential "to act as a single agent therapy and, importantly, in combination with many cancer therapies already being developed in-house."
“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,” Paola Casarosa, Member of the Board of Managing Directors at Boehringer Ingelheim, said in a statement.
(Image source: boehringer-ingelheim.com)
