T3 Pharmaceuticals–Boehringer: investment, 202311 acquisition of T3 Pharma for up to CHF430m by Boehringer Ingelheim

	Period	2023-11-22
	Predecessor	T3 Pharmaceuticals–Boehringer: investment, 202007 3rd financing round totalling CHF25m incl existing investor BIVF
	Money taker	T3 Pharmaceuticals AG
	Group	Boehringer Ingelheim (Group)
	Money source	Boehringer Ingelheim (Group)
	Product	cancer immunotherapy (immuno-oncology, I-O)
	Product 2	T3P-Y058-739 (bacterial treatment, 3T Pharma)
	Person	Pairet, Michel (Boehringer 201009 head Boehringer Ingelheim Venture Fund)

Boehringer Ingelheim. (11/22/23). "Press Release: Boehringer Ingelheim Expands Immuno-oncology Portfolio with the Acquisition of Bacterial Cancer Therapy Specialist T3 Pharma". Ingelheim & Basel.

Boehringer Ingelheim today announced the acquisition of privately-held T3 Pharmaceuticals AG (“T3 Pharma”), a clinical stage Swiss biotech company, for an amount of up to 450 million CHF. T3 Pharma has developed a proprietary therapy platform that uses live bacteria to deliver immune-modulating proteins to cancer cells and tumor micro-environments.

Despite the significant transformation of the cancer treatment landscape by immunotherapies, long-term remissions only occur in 15-20% of cancer patients. Boehringer Ingelheim aims to considerably increase this rate by utilizing complementary immuno-oncology platforms such as T-Cell Engagers (TcEs), oncolytic viruses, and cancer vaccines, which have the potential to turn cold tumors into hot ones, extending the benefits of immunotherapy to more patients in need.

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T3 Pharma’s pioneering technology will bolster Boehringer Ingelheim’s array of novel immune-modulatory cancer treatments, reinforcing the company's oncology strategy to transform the lives of people affected by cancer.

“The acquisition of T3 Pharma will significantly expand our immuno-oncology pipeline portfolio and is synergistic with many of our existing R&D programs. This will bring us closer to achieving our vision of driving a paradigm shift in cancer care treatments,” said Michel Pairet, Member of the Board of Managing Directors at Boehringer Ingelheim with responsibility for the Innovation Unit.

“We are extremely proud of the work of T3 Pharma’s team and very excited to continue and accelerate the successful development of our bacterial delivery platform as part of Boehringer Ingelheim. Being integrated with our partners at Boehringer will enable us to realize the full potential of our platform to fight solid cancers,” said Simon Ittig, CEO of T3 Pharma.

T3 Pharma has developed a unique platform using engineered Yersinia enterocolitica bacteria to deliver bioactive proteins directly and selectively into the tumor micro-environment, while sparing healthy tissues. The bacteria can be loaded with multiple immune-modulatory proteins of choice, enabling the design of immuno-oncology combination therapies in one single agent.

Boehringer Ingelheim is adopting a comprehensive approach to cancer therapy development including both cancer cell-directed and immuno-oncology approaches. This strategy aims to enable smart combinations that deliver life-changing and best-in-class treatments that may offer the greatest benefit for people affected by cancer. To make this ambition a reality, the company is constantly exploring emerging science cooperating with a growing global network of leading academic and industry partners and by investing in startup companies via its Boehringer Ingelheim Venture Fund, which was among the main investors of T3 Pharma.

T3 Pharma is headquartered in Allschwil near Basel, Switzerland, where it was founded with financial backing from both corporate and institutional investors. Operations of T3 Pharma will be kept in the Basel region following the acquisition.

Boehringer Ingelheim

Boehringer Ingelheim is working on breakthrough therapies that transform lives, today and for generations to come. As a leading research-driven biopharmaceutical company, the company creates value through innovation in areas of high unmet medical need. Founded in 1885 and family-owned ever since, Boehringer Ingelheim takes a long-term, sustainable perspective. More than 53,000 employees serve over 130 markets in the two business units Human Pharma and Animal Health. Learn more at www.boehringer-ingelheim.com

About T3 Pharma

T3 Pharma, founded in 2015 as a spin-off from the Biozentrum of the University of Basel, is a biotechnology company developing bacteria-based immuno-oncology therapies to treat solid tumors. The Company has built a proprietary protein delivery platform by repurposing the bacterial type III secretion (T3S) system, achieving delivery of desired therapeutic proteins into the tumor micro-environment. Its lead product, T3P-Y058-739, is currently tested in a Phase I clinical trial. Its investors included the Boehringer Ingelheim Venture Fund, Reference Capital SA, Wille Finance AG and private Swiss investors.

Media Contacts

Harro Ten Wolde
Head of Global Media Relations
E-Mail: harro.ten_wolde@boehringer-ingelheim.com
Phone Number: +49 (6132) 77-181352