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August 8, 2024

Boehringer Ingelheim acquires oncology biotech firm for $1.3B

Contributed Boehringer Ingelheim's U.S. headquarters in Ridgefield.
By David Krechevsky

Germany-based biotech firm Boehringer Ingelheim, which has its U.S. headquarters in Ridgefield, has acquired Nerio Therapeutics Inc., aCalifornia-based oncology biotech, for $1.3 billion, the company said recently.

Boehringer said the acquisition adds an innovative preclinical program that has the potential to be a “key centerpiece component for its immuno-oncology portfolio” as it works to improve outcomes for cancer patients.

Nerio is developing a therapy that can activate the immune system to fight cancer cells, but the approach so far has worked for only some patients. Boehringer said it is committed to “changing this paradigm and extending the benefits of immuno-oncology to more patients with a comprehensive portfolio of therapies” based on Nerio’s work.

“Securing the rights to Nerio Therapeutics' novel checkpoint inhibitors creates a broad panel of exciting new cancer treatment combination opportunities,” said Paola Casarosa, a member of Boehringer Ingelheim’s board of managing directors. “This brings us a major step closer to our vision of transforming the lives of people living with cancer.”

Boehringer Ingelheim is a biopharmaceutical company active in both human and animal health, focusing on developing therapies in areas of high unmet medical need. 

Nerio Therapeutics is a drug discovery and development company focused on phosphatases, a class of potentially high-value therapeutic protein targets. 

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