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
Westinghouse and Hyundai E&C Welcome Suppliers to First Finland-Sweden Nuclear New Plant Symposium12.3.2026 14:00:00 EET | Press release
The Westinghouse Electric Company and Hyundai E&C consortium welcomed more than 150 attendees from local companies, government and industry organizations to the first Finland-Sweden Supplier Symposium on March 10 and 11. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312643783/en/ Pictured: A group photo of event speakers and dignitaries, including Lee Han-woo, Hyundai E&C Chief Executive Officer; Joel Eacker, Westinghouse Senior Vice President; Harri Mäki-Reinikka, Ambassador for Trade Promotion of Finland; Kim Jung-ha, Ambassador of the Republic of Korea to Finland; and Howard Brodie, U.S. Ambassador to Finland During the event, participants learned about AP1000® technology opportunities in the Nordics, including the Early Works Agreement (EWA) the consortium signed with Fortum for a potential AP1000 project. Under the EWA, the consortium is performing early project planning, site assessments and focused licensing and p
Wellesley Hills Financial Goes Global: New London and New York Hubs Signal Aggressive Expansion into Transatlantic Fintech M&A12.3.2026 14:00:00 EET | Press release
Wellesley Hills Financial (“WHF”), a premier fintech and payments-focused investment bank spanning the lower to upper middle market, today announced a series of senior appointments and geographic expansions that further scale its global advisory platform and deepens its capabilities across the payments and fintech ecosystems. The firm has appointed Barry Davis as Executive Advisor, based in London, added Managing Director Bill Shraga in New York, and expanded its payments consulting subsidiary, Merchant Portfolios (“MP”), with the addition of EVPs Lance McCord in North Carolina and Nolan Pittman in Arizona. Strengthening Transatlantic Connectivity Barry Davis joins WHF as the firm’s first London-based Executive Advisor, marking a significant milestone in WHF’s international expansion. His appointment establishes a dedicated presence in the U.K. and enhances the firm’s existing ability to advise European fintech and payments companies seeking U.S. capital, strategic partnerships, and cr
Prodalim Strengthens its Functional Platform to Enter the Fast-Growing Nutraceutical Market with the Acquisition of Sylvestre, a Market Leader in Botanical Extracts Based in Brazil12.3.2026 12:45:00 EET | Press release
Prodalim, a global leader in juice and specialty ingredients solutions, announced today the acquisition of Sylvestre, a leading Brazilian producer of botanicals and functional extracts addressing the nutraceutical market. Sylvestre’s existing owners and management team will remain with the company and support its integration into Prodalim’s platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312584318/en/ Founded in 1992 in Brazil, Sylvestre is a trusted supplier of high-quality natural ingredients, specializing in botanical extracts, fruit powders, superfruits, teas, and unique functional plant-based solutions sourced from the rich and diverse Brazilian flora. With a portfolio of more than 200 natural ingredients, the company serves customers across the food, beverage, and nutraceutical industries, supporting wellness-oriented and health-driven applications. Leveraging Brazil’s rich biodiversity and advanced extract
Compass Pathways to Present at Stifel 2026 Virtual CNS Forum on March 18, 202612.3.2026 12:30:00 EET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will attend the Stifel 2026 Virtual CNS Forum, from March 17-18, 2026, and will participate in a fireside chat on March 18, 2026, at 10:30am ET. A live audio webcast of this event will be accessible from the “Events” page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following each event. About Compass Pathways Compass Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people with serious mental health conditions who are not helped by existing treatments. We are pioneering a new paradigm for treating mental health conditions focused on rapid and durable responses through the development of our
WHOOP and Samuel Ross MBE Announce First Limited-Edition Collection Drop for PROJECT TERRAIN12.3.2026 12:00:00 EET | Press release
WHOOP, the human performance company, today announces that the first limited-edition collection drop of PROJECT TERRAIN, the multi-year collaboration between WHOOP and Samuel Ross MBE via SR_A, is now available for purchase. The debut collection introduces a technical garment system engineered for movement across environments - redefining the city as a modern training ground for daily performance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312513358/en/ WHOOP and Samuel Ross MBE Announce First Limited-Edition Collection Drop for PROJECT TERRAIN PROJECT TERRAIN marks a first for WHOOP, featuring reimagined executions of WHOOP bands, elevated WHOOP Body apparel, and the company’s first entry into technical outerwear. Designed as a unified system, each piece integrates the WHOOP device intentionally and visibly, transforming it from something worn discreetly into a central design element. Defined by SR_A’s architectural
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