Boehringer Ingelheim announced that it has acquired all shares of Austrian-based ViraTherapeutics, a biopharmaceutical company specializing in the development of oncolytic viral therapies.
The deal gives Boehringer full control over a preclinical viral-based cancer immunotherapy (VSV-GP) the companies have been co-developing for two years. The two companies are working to develop a next generation oncolytic viral therapy platform. VSV-GP, the lead investigational candidate leveraging the platform, has shown promising results in pre-clinical models, especially in combination with key immune modulatory principles Boehringer Ingelheim is developing.
The transaction (with a total value of $245M) follows a collaboration and option agreement signed between ViraTherapeutics and Boehringer Ingelheim in August 2016.
Read the press release