Boehringer Ingelheim set to acquire biotech firm
19 June 2008 00:00 in Pharmaceutical Company Restructures
Boehringer Ingelheim (BI) has agreed a deal that will see it acquire the biotech firm Actimis Pharmaceuticals, it has been announced.
The deal is described as being a structured buyout and its completion will depend on Actimis being able to progress its leading drug compound through to phase III clinical trials.
If the relevant compound, which is a novel target for asthma and allergic rhinitis, does make it to phase III tests then BI will take control of the entire company at a cost of around £250 million.
Dr Andreas Barner, vice-chairman of the board corporate division pharma research, at BI, said: "Actimis' compound provides an innovative addition to Boehringer Ingelheim's portfolio of development candidates for the potential treatment of respiratory diseases."
BI describes its companies as being research-driven and the group currently employs close to 40,000 people worldwide.
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Story collated for Zenopa by the Adfero News Agency