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Boehringer Ingelheim to Acquire Actimis Pharmaceuticals
Boehringer Ingelheim GmbH (Ingelheim, Germany) will acquire Actimis Pharmaceuticals, Inc. (San Diego, CA), 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.
Boehringer Ingelheim GmbH (Ingelheim, Germany) will acquire Actimis Pharmaceuticals, Inc. (San Diego, CA), 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 1 clinical development, is successfully advanced into a Phase 3, 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.
The compound AP768 interacts with CRTH21, a novel target for asthma and allergic rhinitis. Previous to the currently ongoing Phase 1 clinical trial, the compound has been shown to have a more effective mechanism of action across multiple available animal models compared to currently marketed leukotriene receptor antagonists.