Boehringer Ingelheim will pay a total of up to $365m to acquire its venture fund's portfolio company Amal Therapeutics, an immunotherapy spinout of University of Geneva.

Amal Therapeutics, a Switzerland-based cancer-focused biotechnology spinout from University of Geneva,  yesterday agreed to an acquisition worth up to €325m ($365m) by one of its existing investors, pharmaceutical firm Boehringer Ingelheim. Boehringer Ingelheim will make an upfront payment of undisclosed size, with the remainder due once contingent clinical, developmental and regulatory milestones are hit. A…

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