Boehringer Ingelheim signs Option to Acquire Trutino Biosciences
14.6.2022 19:00:00 EEST | Business Wire | Press release
Boehringer Ingelheim today announced the signing of an option to acquire Trutino Biosciences Inc. (the “Transaction”), a San Diego-based biotech company.
Trutino Biosciences is a pre-clinical stage biotech company dedicated to the discovery and development of next-generation cytokine therapies to treat immuno-oncology and autoimmune diseases. Boehringer Ingelheim is dedicated to a two-pronged research strategy to fight cancers: through cancer cell-directed and immune cell-targeting compounds. The ongoing research partnership between Boehringer Ingelheim and Trutino is part of an overarching effort to mobilize a patient’s immune system to fight cancer.
“Boehringer Ingelheim is excited to extend our partnership with Dr. Kim and his outstanding team at Trutino Biosciences. Our existing collaboration has made rapid and impressive progress in a short time frame, and we expect this field to have potential combination benefits with our existing immune-targeting assets,” said Clive R. Wood, Ph.D., Corporate Senior Vice President and Global Head of Discovery Research, Boehringer Ingelheim. “The selective activation of specific cytokines localized in the tumor microenvironment holds enormous promise and has the potential to be a key element in fully harnessing the power of the immune system to fight cancer.”
“It's been two years since our initial strategic alliance began and we are very excited to further strengthen our partnership with Boehringer Ingelheim, a leader in cancer immunology, to advance potential cytokine therapeutic options that will transform the lives of cancer patients worldwide,” said Phillip Kim, Ph.D., MBA, Founder and CEO of Trutino Biosciences. “Boehringer Ingelheim has a deep commitment to our innovative scientific approaches and to bringing novel cancer therapies to patients. This global partnership validates the broad potential of our proprietary ‘On Demand Cytokine’ platform. As part of this expanded collaborative framework, we aim to rapidly develop a new generation of cytokine therapies as single agent and in combination with Boehringer Ingelheim's pipeline portfolio of cancer vaccines, oncolytic viruses, T cell engagers and other therapeutic modalities."
Under the agreement, Boehringer Ingelheim reserves the right to purchase all shares of Trutino Biosciences once specified program milestones have been achieved within a given timeframe. Until that time, Trutino will continue to operate as an independent company, with the existing fruitful strategic partnership and collaboration agreement between the companies continuing uninterrupted.
The transaction consideration consists of an option fee, the issuance of a convertible note and fixed purchase price terms to acquire Trutino Biosciences once pre-defined milestones are achieved. The option fee and principal amount of the convertible note funded by Boehringer Ingelheim at the signing of the option will collectively fully finance Trutino Biosciences through the next major development milestones of Trutino Biosciences.
Boehringer Ingelheim and Trutino Biosciences were introduced in 2019 during one of Boehringer Ingelheim’s “Grass Roots Innovation” events in San Diego. From there, in 2020 the companies forged a multi-target strategic partnership on conditionally masked cytokines. Boehringer Ingelheim’s Grass Roots programs provide biotech entrepreneurs mentoring and access to expertise and possible funding. To learn more, visit Grass Roots Innovation.
Please click on the link for "Notes to Editors":
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005761/en/
Contact information
Media Contacts
Boehringer Ingelheim
Reinhard Malin (CET time zone)
Innovation Unit/Bio Comms, Corp. Affairs
P: 49 6132 77-90815
reinhard.malin@boehringer-ingelheim.com
Linda Ruckel (EST time zone)
Innovation Unit/Bio Comms, Corp. Affairs
P: 1 203-791-6672
linda.ruckel@boehringer-ingelheim.com
Trutino Biosciences
Phillip Kim
+1 858-880-5501
pkim@trutinobio.com
John Zacamy
+1 212-486-2760
info@trutinobio.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Horse Powertrain Reveals Lightweight Hybrid V6 System at Beijing Auto Show 202622.4.2026 02:01:00 EEST | Press release
Horse Powertrain, a global leader in innovative and low-emission powertrain systems, has revealed the HORSE W30 – the company’s first production-ready V6 engine – ahead of the Beijing Auto Show 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260421176701/en/ The front view of the HORSE W30 engine. The HORSE W30 marks a first for Horse Powertrain, in transferring its expertise in developing optimized three- and four-cylinder engines into the V6 category. By deploying its expertise in this way, Horse Powertrain has developed the lightest V6 on the market and created a hybrid-first V6 with outstanding fuel economy and efficiency. The HORSE W30 is a 3-liter engine that can be fitted in a transverse or longitudinal configuration, allowing it to be packaged in a wide variety of vehicles. The two rows of cylinders are offset at an angle of 90° to lower the engine’s center of gravity, improving ease of installation and optimizi
Horse Powertrain Reveals Lightweight Hybrid V6 System at Beijing Auto Show 202622.4.2026 02:01:00 EEST | Press release
Horse Powertrain, a global leader in innovative and low-emission powertrain systems, has revealed the HORSE W30 – the company’s first production-ready V6 engine – ahead of the Beijing Auto Show 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260421176701/en/ The front view of the HORSE W30 engine. The HORSE W30 marks a first for Horse Powertrain, in transferring its expertise in developing optimized three- and four-cylinder engines into the V6 category. By deploying its expertise in this way, Horse Powertrain has developed the lightest V6 on the market and created a hybrid-first V6 with outstanding fuel economy and efficiency. The HORSE W30 is a 3-liter engine that can be fitted in a transverse or longitudinal configuration, allowing it to be packaged in a wide variety of vehicles. The two rows of cylinders are offset at an angle of 90° to lower the engine’s center of gravity, improving ease of installation and optimizi
Montrose Environmental Group Is Now Onterris21.4.2026 23:05:00 EEST | Press release
Montrose Environmental Group (NYSE: MEG, changing to ONT May 4, 2026) will mark Earth Day by rebranding to Onterris. The new, unified brand reflects a purpose and broader role in tackling complex environmental challenges with scientific rigor, operational quality and precise execution. It also aligns expertise and market awareness to position the Company for its next phase of growth. Founded 14 years ago and operating across the U.S., Canada and Australia, the Company is a leading pure-play environmental solutions provider. While the name is new, the mission remains unchanged: advancing our way of life without compromising the integrity of our environment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420842892/en/ At the heart of the new brand is a guiding principle: For Planet & Progress. “Onterris is more than a new name. This brand reflects our company’s evolution and role in solving some of the defining environmenta
Montrose Environmental Group Is Now Onterris21.4.2026 23:05:00 EEST | Press release
Montrose Environmental Group (NYSE: MEG, changing to ONT May 4, 2026) will mark Earth Day by rebranding to Onterris. The new, unified brand reflects a purpose and broader role in tackling complex environmental challenges with scientific rigor, operational quality and precise execution. It also aligns expertise and market awareness to position the Company for its next phase of growth. Founded 14 years ago and operating across the U.S., Canada and Australia, the Company is a leading pure-play environmental solutions provider. While the name is new, the mission remains unchanged: advancing our way of life without compromising the integrity of our environment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420842892/en/ At the heart of the new brand is a guiding principle: For Planet & Progress. “Onterris is more than a new name. This brand reflects our company’s evolution and role in solving some of the defining environmenta
SBC Medical Announces Closing of Previously Announced Secondary Public Offering of 3.1 million shares of Common Stock21.4.2026 23:00:00 EEST | Press release
SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“the Company”), a Management Service Organization operating a wide range of franchise businesses across diverse medical fields, today announced the closing of its previously announced underwritten secondary public offering of 3,100,000 shares of the Company’s common stock by Dr. Yoshiyuki Aikawa (the “Selling Stockholder”) at the public offering price of $3.25 per share. The proceeds from the offering to the Selling Stockholder were approximately $10.1 million, before deducting underwriting discounts and commissions. The Company did not sell any shares of its common stock in the offering. The Selling Stockholder received all of the proceeds from the offering. Maxim Group LLC acted as the sole book-running manager and Roth Capital Partners acted as the co-manager for the offering. The offering was made pursuant to the Company’s effective shelf registration statement on Form S-3, including a base prospectus, filed with the U.S. Secur
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom