NBE-Therapeutics is to become part of Boehringer Ingelheim. The Basel company is being acquired for €1.18 billion. It will remain at its campus at the Technology Park Basel and operate as a new site within Boehringer Ingelheim’s R&D network. ”This transaction is a validation of our platform and its potential for the next generation cancer therapies,” said Bertrand Damour, Chief Executive Officer of NBE-Therapeutics, in a press release.

The Basel biotech company is focused on antibody-drug conjugates (ADC) and advancing targeted cancer therapies derived from its immune stimulatory platform. The lead compound NBE-002 is currently in phase I clinical studies for triple negative breast cancer and other solid tumors.

Boehringer Ingelheim is gaining access to an innovative and unique platform that will decisively expand its cancer immunology portfolio. “We welcome NBE-Therapeutics’ richly talented team to Boehringer Ingelheim and we look forward to collaborating with them on this important work,” said Michel Pairet, member of Boehringer Ingelheim’s Board of Managing Directors.

Boehringer Ingelheim expects to close the transaction in the first quarter of 2021.