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 total of $112m will be paid out if treatments reach certain commercial milestones.
Founded in 2012, Amal Therapeutics is working on peptide-based therapeutic vaccines using a technology platform called Kisima. The spinout’s lead asset, ATP128, is aimed at stage 4 colorectal cancer.
The spinout previously inked a collaboration agreement with Boehringer Ingelheim to enter ATP128 into a phase 1b clinical trial that will evaluate the candidate in combination with one of the corporate’s compounds, BI754091.
Boehringer Ingelheim plans on developing additional therapies by combining its own assets with Kisima’s capabilities.
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Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
