Athera and Boehringer Ingelheim enter option agreement on a novel therapy for atherosclerosis

Sweden-based Athera Biotechnologies, which is 65% owned by Karolinska Development, has entered into an option agreement with Boehringer Ingelheim on a novel preclinical antibody program, whereby Athera grants the family-owned German drug major an exclusive option to acquire the entire program. Athera’s fully-human monoclonal antibody is intended for the treatment of patients with cardiovascular disease, who are at an increased risk of secondary events and death.

Under the terms of the option agreement, Athera will conduct defined preclinical development and a Phase I study for the lead antibody and, following the completion of such study, Boehringer Ingelheim will have an exclusive option to acquire substantially all of Athera’s assets and rights relating to the program. In exchange for Athera’s granting of the option, Boehringer Ingelheim will pay an option fee. The size of the fee and the other terms of the option are not being disclosed but this transaction is in line with market average terms for programs at similar stages of development, says the Swedish firm.

"We are proud that Athera's research has attracted a top tier company to enter an option agreement of this magnitude and we are confident that Boehringer Ingelheim, with its vast experience and resources within the cardiovascular field, is the ideal partner for this innovative program," said Torbjorn Bjerke, chief executive and president at Karolinska Development.