Boehringer Ingelheim is acquiring NBE-Therapeutics, a private, clinical-stage Swiss biotech company focused on antibody-drug conjugates and advancing targeted cancer therapies derived from its immune stimulatory iADC™ platform, for €1.18 billion.
NBE-Therapeutics’ lead compound NBE-002 is currently in phase I clinical studies for triple negative breast cancer and other solid tumours.
Importantly, Boehringer Ingelheim gains access to an innovative and unique platform that it will use to build a leading 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 Managing Directors with responsibility for the company’s Innovation Unit.
“This acquisition is a further example of Boehringer Ingelheim’s long-term strategy to enhance our position as an innovator of novel cancer therapies for patients in need.
“We welcome NBE-Therapeutics’ richly talented team to Boehringer Ingelheim and we look forward to collaborating with them on this important work.”
The total transaction value is €1.18 billion euros and also includes contingent clinical and regulatory milestones.
The consummation of the transaction is subject to customary closing conditions and is expected during the course of Q1 2021.