NBE Therapeutics makes a €1.18 billion exit

NBE-Therapeutics is a clinical-stage Swiss biotechnology company is focused on antibody-drug conjugates and advancing targeted cancer therapies derived from its immune stimulatory iADC platform. Its lead compound NBE-002 is currently in phase I clinical studies for triple-negative breast cancer and other solid tumours. 

Today, Boehringer Ingelheim announced the signing of a binding agreement for acquiring all shares of NBE Therapeutics. The total transaction value is 1.18 billion euros and also includes contingent clinical and regulatory milestones. The acquisition will significantly strengthen Boehringer Ingelheim’s strategic focus on targeted cancer cell-directed therapies and complements existing capabilities in antigen discovery as well as antibody and T-cell engager technologies.

Boehringer Ingelheim will also gain 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. This builds on recent strategic acquisitions, including ViraTherapeutics and AMAL Therapeutics, and collaborations.

“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.” 

NBE-Therapeutics’ will remain at its headquarters in Basel and operate as a new site within Boehringer Ingelheim’s R&D network. The consummation of the transaction is subject to customary closing conditions and is expected during the course of Q1 2021.

Strong investors on board
NBE Therapeutics’s journey began in 2012 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. It has raised over USD 65m in series A to C rounds and over USD 4m from several non-dilutive grants from organizations including the Swiss Commission for Technology & Innovation, the European Commission, and Systems-X. NBE-Therapeutics’ technology platform and derived assets are protected by a broad portfolio of patents and licenses.

(Press release/RAN)