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news.Boehringer Ingelheim has signed an agreement to acquire San Diego-based biotechnology company Actimis Pharmaceuticals.
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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’s 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’s shares. Upon successful completion of the entire development program, the total deal will be worth $515 million.
Andreas Barner, vice-chairman of the board corporate division pharma research, development and medicine at Boehringer Ingelheim, said: “Actimis’s compound provides an innovative addition to Boehringer Ingelheim’s portfolio of development candidates for the potential treatment of respiratory diseases.”