Boehringer Pays OSE $42M to Expand Cardiovascular Collaboration, Acquire New Asset

Boehringer Ingelheim has cemented its long-standing collaboration with OSE Immunotherapeutics by committing an additional 38.8 million euros ($42 million). This investment aims to advance a preclinical anti-PD1/cytokine drug and extend their current solid tumor research into cardio-renal-metabolic (CRM) diseases.

The collaboration between the two companies dates back to 2018. That year, Boehringer paid 15 million euros ($18.4 million at the time) for global rights to develop OSE-172, a preclinical checkpoint targeting myeloid lineage cells. This drug, now known as BI 765063, focuses on the "don't eat me" signaling employed by tumors to avoid immune responses. OSE's strategy was to target SIRP-alpha to modulate the CD47 ligand, enhancing the immune system's capability to activate myeloid cells and thereby attack tumors.

In 2021, BI 765063 demonstrated its potential when 45% of evaluable patients with solid tumors in a phase 1 dose-escalation study showed clinical benefits. With promising results in cancer treatment, Boehringer is now interested in exploring the efficacy of BI 765063 in CRM diseases. The German pharmaceutical giant has amended its deal with OSE to include both BI 765063 and another phase 1 solid tumor drug, BI 770371, for CRM indications.

The updated agreement involves a one-off payment of 25.3 million euros ($27.4 million) to OSE. Additionally, Boehringer retains an option for an "additional buyout," which would involve further payment. The original developmental, regulatory, and sales milestones worth 1.1 billion euros ($1.1 billion) outlined in 2018 remain intact.

Expanding their scope further, Boehringer has also agreed to pay 13.5 million euros ($14.6 million) to OSE for a new preclinical program. This initiative will focus on developing immune-cell activating treatments using OSE's cis-targeting anti-PD-1/cytokine platform. Boehringer anticipates that this new platform will enhance its portfolio of innovative immune-modulatory cancer therapies.

Besides the upfront fee, OSE is set to receive a near-term milestone payment of 17.5 million euros ($18.9 million). This expanded collaboration fits seamlessly into Boehringer’s broader dealmaking strategy, which has seen a surge of partnerships since the beginning of the year. Notable collaborations include a T-cell anti-cancer therapy partnership with 3T Biosciences and an agreement with Suzhou Ribo Life Science and Ribocure Pharmaceuticals to explore RNA treatment for metabolic-associated steatohepatitis.

Boehringer is not alone in eyeing collaborations with OSE. In February, AbbVie also entered into a partnership with OSE, paying $48 million upfront for global rights to a novel approach to treating chronic inflammation.

This move by Boehringer Ingelheim indicates a strategic expansion in both their cancer and CRM disease treatment portfolios. By leveraging OSE’s innovative platforms and the promising results of their joint research, Boehringer aims to solidify its position in the competitive pharmaceutical landscape, focusing on both oncological and metabolic disease treatments.