Pharma BD Deal Intelligence

Boehringer Ingelheim GmbH / NBE-Therapeutics AG

2020 · Acquisition/Merger · $1.4B · Complete

Outcome grade pending — assessed 5 years post-close.

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The coverage arc

Jun 15, 2013 Cancer Research — ROR1 expression in TNBC Neutral

ROR1 is highly expressed on the surface of triple-negative breast cancer cells but minimally expressed on normal adult tissues, making it a promising candidate…

Dec 10, 2020 Fierce Biotech Bullish

Boehringer Ingelheim is paying up to EUR 1.18 billion ($1.4 billion) to acquire Swiss biotech NBE-Therapeutics, snagging an immune-stimulatory ADC platform and…

Jan 12, 2021 American Cancer Society Neutral

In 2021, the American Cancer Society estimates 281,550 new cases of invasive breast cancer and 43,600 breast cancer deaths in U.S. women. Triple-negative…

Source summaries from our enrichment pipeline; follow links for originals.

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Boehringer Ingelheim signed a binding agreement to acquire Swiss biotech NBE-Therapeutics for EUR 1.18B (~$1.4B); the deal closed March 4, 2021. It brought NBE's immune-stimulatory ADC (iADC) platform plus lead asset NBE-002 (zinitevatug), an anti-ROR1 ADC then in Phase 1 for TNBC and solid tumors, complementing Boehringer's antigen-discovery and T-cell-engager capabilities and entering the increasingly competitive ROR1 ADC race alongside Merck/VelosBio. Post-close, the program did not pan out: the NBE-002 Phase 1/2 trial (NCT04441099) was terminated for "End of Program" with a primary completion date of August 14, 2023, having enrolled only 12 of a planned ~100 patients. The acquisition's central clinical asset was thus discontinued, leaving the iADC platform as the residual value of the transaction.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Pipeline outcome
Assets Terminated

Key facts

Related deals — scored

DealYearValueOutcome
Boehringer Ingelheim GmbH / NBE-Therapeutics AG (this deal)2020$1.4B
Boehringer Ingelheim GmbH / Amgen Inc. (Fremont manufacturing facility)201177
Boehringer Ingelheim GmbH / NBE Therapeutics2020$1.5B28
Boehringer Ingelheim GmbH / AMAL Therapeutics SA2019$366M
Boehringer Ingelheim GmbH / Bridge Biotherapeutics, Inc.2019$1.2B
Boehringer Ingelheim GmbH / Yuhan Corporation2019$870M
AstraZeneca PLC / Daiichi Sankyo Company, Limited2019$6.9B100

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