German pharmaceutical company Boehringer Ingelheim has purchased Swiss biotechnology company Amal Therapeutics SA.
The acquisition price is 325 million euros ($365 million), including advance payments and biobucks spending, plus up to $112.3 million if certain commercial milestones are reached.
With the deal, Boehringer Ingelheim will develop new therapies by combining assets from its cancer immunology portfolio with Amal Therapeutics' proprietary KISIMA immunization platform.
Amal Therapeutics noted that by sharing resources and capabilities in clinical development with Boehringer Ingelheim, the company will be able to move ATP128, a therapeutic vaccine for the treatment of colorectal cancer, and other assets forward.