Boehringer Buying Actimis

Boehringer Ingelheim GmbH has agreed to acquire Actimis Pharmaceuticals Inc., a San Diego-based biotech company focused on respiratory and inflammatory disorders. The deal would be valued at $515 million, in Boehringer is able to move Actimis' lead asthma candidate from Phase 1 to Phase III clinical trials. Additional financial terms were not disclosed.

 

Actimis has raised $7.5 million from Mitsui & Co. and Sanderling Ventures.

 

VentureWire reports that the sale does not include four other Actimis drug candidates, which will be used as the basis of a new independent company. A formal VC round for that effort is expected to close within the next several weeks.

 

 

PRESS RELEASE

Boehringer Ingelheim GmbH today announced an agreement to acquire Actimis Pharmaceuticals, Inc., a privately owned biotech company based in San Diego. The acquisition will occur through a structured buyout in which Boehringer Ingelheim will acquire shares of Actimis depending on the achievement of several successive milestones with Actimis' leading asthma compound AP768. If AP768, currently in phase I clinical development, is successfully advanced into a phase III, Boehringer Ingelheim will own 100% of Actimis' shares. Upon successful completion of the entire development programme, the total deal will be worth US$ 515 million. Further financial details were not disclosed.

 

The compound AP768 interacts with CRTH21 , a novel target for asthma and allergic rhinitis. Previous to the currently ongoing phase I clinical trial, the compound has been shown to have a more effective mechanism of action across multiple available animal models compared to currently marketed leukotriene receptor antagonists.

 

“Actimis' compound provides an innovative addition to Boehringer Ingelheim's portfolio of development candidates for the potential treatment of respiratory diseases”, said Dr. Andreas Barner, Vice-Chairman of the Board Corporate Division Pharma Research, Development and Medicine at Boehringer Ingelheim. “For many decades Boehringer Ingelheim has been advancing research and development in the respiratory area with new medicines, such as Spiriva