Boehringer ac­quires Uni­ver­si­ty of Basel spin­out for $507M to de­vel­op im­munother­a­pies

Boehringer In­gel­heim has ac­quired Uni­ver­si­ty of Basel spin­out T3 Phar­ma­ceu­ti­cals for 450 mil­lion CHF ($507.4 mil­lion) in an ef­fort to ex­pand its im­muno-on­col­o­gy port­fo­lio with T3’s plat­form.

The com­pa­nies have a pri­or re­la­tion­ship through the Boehringer In­gel­heim Ven­ture Fund, which par­tic­i­pat­ed in a 2019 round worth 12 mil­lion CHF ($13.5 mil­lion). In 2020, T3 raised 25 mil­lion CHF ($28.2 mil­lion) in its third fi­nanc­ing round to fund its lead can­di­date.

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