Boehringer gets into 'guided-missile drugs' with $1.5 billion deal for NBE

By John Miller ZURICH (Reuters) - Boehringer Ingelheim is paying 1.18 billion euros ($1.5 billion) for Swiss-based NBE Therapeutics, the German drugmaker said on Thursday, adding pipeline candidates including a drug in early trials against triple-negative breast cancer and lung cancer.

Reuters December 11, 2020 00:05:45 IST
Boehringer gets into 'guided-missile drugs' with $1.5 billion deal for NBE

Boehringer gets into guidedmissile drugs with 15 billion deal for NBE

By John Miller

ZURICH (Reuters) - Boehringer Ingelheim is paying 1.18 billion euros ($1.5 billion) for Swiss-based NBE Therapeutics, the German drugmaker said on Thursday, adding pipeline candidates including a drug in early trials against triple-negative breast cancer and lung cancer.

Basel-based biotech NBE, in which Boehringer's venture fund previously had a stake along with Denmark's Novo Nordisk Foundation and Prague-based PPF Group, is hoping to develop so-called Antibody-drug Conjugates (ADCs) from its own platform against a series of cancers.

ADCs combine a monoclonal antibody with a chemical drug payload, aiming to pack a one-two punch against cancers and potentially other diseases.

Though this class of "guided-missile" cancer medicines got off to a hit-and-miss start due to challenges of safely and effectively combining the two drug classes, advances have led to several recent approvals, including medicines from companies such as AstraZeneca, Roche and Seattle Genetics (Seagen).

"Boehringer Ingelheim gains 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," the company said in a statement.

The deal is a bet on the future, with the triple negative breast cancer hopeful, called NBE-002, only having just started human trials, and four other candidates either in discovery or preclinical stages.

In August, NBE added Erich Schlick as chairman.

Schlick, now a venture capitalist, in the early 1990s worked with the partnership that eventually led to the development of Humira, AbbVie's drug for auto-immune disorders like psoriasis that is the world's top-selling medicine at about $20 billion annually.

($1 = 0.8241 euros)

(Reporting by John Miller; Editing by Steve Orlofsky)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

No diplomatic ties to Qatar yet, but trade, travel resuming, says UAE
World

No diplomatic ties to Qatar yet, but trade, travel resuming, says UAE

By Lisa Barrington DUBAI (Reuters) - Arab states boycotting Qatar could resume travel and trade links with Doha within a week under a U.S.-backed deal, but restoring diplomatic ties requires more time as parties work to rebuild trust, a United Arab Emirates official said on Thursday. Gulf powerhouse Saudi Arabia announced the breakthrough in ending a bitter dispute at a summit on Tuesday, with its foreign minister saying Riyadh and its allies would restore all ties with Doha severed in mid-2017. UAE Minister of State for Foreign Affairs Anwar Gargash told a virtual news conference that measures to be implemented within a week of the agreement "include practical measures of airlines, shipping and trade".

U.S. airlines, airports tighten security in DC-area after unrest
World

U.S. airlines, airports tighten security in DC-area after unrest

By Tracy Rucinski (Reuters) - U.S airlines and law enforcement agencies have bolstered security at Washington-area airports on Thursday after supporters of President Donald Trump caused mayhem in the U.S. capital in an attempt to overturn his election loss.

'He hasn't even called us': Pelosi says Capitol Police chief should resign
World

'He hasn't even called us': Pelosi says Capitol Police chief should resign

By Jonathan Landay, Patricia Zengerle and David Morgan WASHINGTON (Reuters) - U.S. Speaker Nancy Pelosi called on Capitol Police Chief Steven Sund to resign on Thursday, after officers of the federal force charged with protecting Congress allowed supporters of President Donald Trump to storm the Capitol, sending lawmakers fleeing