Boehringer Ingelheim has announced the acquisition of Switzerland-based biotech company T3 Pharmaceuticals in a deal valued at up to CHF450m ($509m).
A therapy platform developed by T3 Pharma using engineered Yersinia enterocolitica bacteria, delivers immune-modulating proteins to cancer cells and tumour micro-environments, sparing healthy tissues.
The bacteria can be loaded with several selective immune-modulatory proteins, enabling the design of immuno-oncology combination therapies in one single agent.
The company’s technology will strengthen Boehringer Ingelheim’s new immune-modulatory cancer treatments while reinforcing its oncology strategy.
Following the acquisition, T3 Pharma will carry out operations from the Basel region.
Boehringer Ingelheim Board of Managing Directors member Michel Pairet said: “The acquisition of T3 Pharma will significantly expand our immuno-oncology pipeline portfolio and is synergistic with many of our existing R&D programmes.
“This will bring us closer to achieving our vision of driving a paradigm shift in cancer care treatments.”
T3 Pharma was founded in 2015 as a spin-off from the Biozentrum of the University of Basel. The company focuses on developing bacteria-based immuno-oncology therapies for the treatment of solid tumours.
T3 Pharma CEO Simon Ittig said: “We are extremely proud of the work of T3 Pharma’s team and very excited to continue and accelerate the successful development of our bacterial delivery platform as part of Boehringer Ingelheim.
“Being integrated with our partners at Boehringer will enable us to realise the full potential of our platform to fight solid cancers.”