The consummation of the transaction is subject to customary closing conditions and is expected during the course of Q1 2021
Boehringer Ingelheim has signed a binding agreement to acquire all shares of NBE-Therapeutics, a clinical-stage biotechnology company focused on antibody-drug conjugates and advancing targeted cancer therapies derived from its immune stimulatory iADC platform.
The company’s lead compound NBE-002 is currently in Phase I clinical studies for triple negative breast cancer and other solid tumours. With its acquisition, Boehringer gains access to the iADC platform, which it will use to build an ADC portfolio and develop potential combinations with other assets from its cancer immunology portfolio.
“NBE-Therapeutics’ iADC platform adds exceptional tumour targeting capabilities to our oncology portfolio. Together with our immune cell-targeting assets, this could enable new powerful combinations that will allow for efficacious and durable treatments for patients,” said Michel Pairet, member of Boehringer Ingelheim’s Board of MDs with responsibility for the company’s Innovation Unit.
The total transaction value is $1.48bn and includes contingent clinical and regulatory milestones.
“I am extremely proud of the NBE-Therapeutics’ team and delighted that our world class ADC expertise is being recognized by Boehringer Ingelheim. This transaction is a validation of our platform and its potential for the next generation cancer therapies,” said Bertrand Damour, CEO of NBE-Therapeutics.
Boehringer Ingelheim’s cancer cell directed research is focused on the development of targeted therapies for the treatment of difficult-to-treat solid tumors.
The NBE-Therapeutics’ acquisition will significantly strengthen Boehringer Ingelheim’s strategic focus on targeted cancer cell-directed therapies, it says. This builds on recent strategic acquisitions and collaborations, including the acquisition of ViraTherapeutics and AMAL Therapeutics, which are also contributing assets.
NBE-Therapeutics is headquartered in Basel, Switzerland, where it was founded with financial backing from a syndicate of both corporate and institutional investors, including the Boehringer Ingelheim Venture Fund, and PPF Group, as their largest shareholders, and Denmark’s Novo Holdings.