Boehringer Ingelheim exercises option to acquire Austrian biotech

13 September 2018

German family-owned pharma major Boehringer Ingelheim has exercised its option to acquire all the share of EMBL Ventures’ portfolio company ViraTherapeutics, based in Innsbruck, Austria.

The transaction has a total value of 210 million euros ($245 million) and follows a collaboration and option agreement signed between ViraTherapeutics and Boehringer Ingelheim in August 2016, which was worth up to 210 million euros.

EMBL Ventures has been a strong supporter of ViraTherapeutics’ growth and development since having first invested in the Company in 2015 as part of its Series A financing round. EMBL Ventures’ interest in ViraTherapeutics focuses on the unique properties of its oncolytic (cancer-destroying) virus-based immunotherapy VSV-GP – a vesicular stomatitis virus (VSV) with a modified glycoprotein (GP) - currently in advanced pre-clinical development for the treatment of solid tumors.

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