Boehringer Ingelheim signed an option to acquire Trutino Biosciences for an undisclosed amount if certain milestones under its existing partnership are achieved.
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Two years after partnering with Trutino Biosciences on the development of new cancer immunotherapeutics, Boehringer Ingelheim signed an option to acquire its San Diego-based collaborator for an undisclosed amount of money if certain milestones under its existing partnership are achieved.
For the Germany-based company, the acquisition of Trutino supports its two-pronged oncology strategy, which includes the development of cancer cell-directed and immune cell-targeting compounds. Trutino is focused on the development of next-generation cytokine therapies to treat immuno-oncology and autoimmune diseases.
In 2020, the two companies forged a collaborative agreement to develop new immunology compounds through Trutino’s On-Demand-Cytokine (ODC) platform. The ODC platform is designed to mask the activity of cytokines until they reach the tumor site. There, they become fully activated to combat the tumor.
The companies believe this masking ability is a safer approach as it spares systemic exposure to the cytokines. Boehringer Ingelheim said its research pact with Trutino is part of its “overarching effort” to harness an individual’s own immune system to fight cancer.
Boehringer Ingelheim came to know Trutino through its Grass Roots Innovation Program which champions next-generation approaches. In 2019, the ODC platform was what the German company called “an early-stage standout” in the program held that year in San Diego.
Clive R. Wood, senior vice president and global head of discovery research at Boehringer Ingelheim, expressed excitement about the deal and bringing the Trutino Biosciences team into the company fold.
“Our existing collaboration has made rapid and impressive progress in a short time frame, and we expect this field to have potential combination benefits with our existing immune-targeting assets,” Wood said in a statement. “The selective activation of specific cytokines localized in the tumor microenvironment holds enormous promise and has the potential to be a key element in fully harnessing the power of the immune system to fight cancer.”
Phillip Kim, founder and CEO of Trutino, noted the efforts made under the two-year-old agreement that could potentially transform the lives of cancer patients. He pointed out that this option to acquire further strengthens the ties between the two companies.
“Boehringer Ingelheim has a deep commitment to our innovative scientific approaches and to bringing novel cancer therapies to patients. This global partnership validates the broad potential of our proprietary ‘On Demand Cytokine’ platform. As part of this expanded collaborative framework, we aim to rapidly develop a new generation of cytokine therapies as single agent and in combination with Boehringer Ingelheim’s pipeline portfolio of cancer vaccines, oncolytic viruses, T cell engagers and other therapeutic modalities,” Kim said in a statement.
Under terms of the latest deal, Boehringer Ingelheim reserves the right to purchase all shares of Trutino Biosciences once specified program milestones have been achieved within a given timeframe. Until that milestone has been achieved, Trutino will remain an independent company.
Although financial terms were not disclosed, Boehringer Ingelheim said the deal consists of an option fee, the issuance of a convertible note and fixed purchase price terms.
