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
USD 1.63 Billion In 72 Hours: Manchester City Yas Residences by Ohana Development Sets New Sales Record In Abu Dhabi17.3.2026 17:44:00 EET | Press release
Ohana Development, a leading UAE real estate developer renowned for its luxury projects, has recorded USD 1.63 billion in sales within 72 hours for Manchester City Yas Residences by Ohana, a gated waterfront community located along Yas Canal in Abu Dhabi, setting a new sales record in the emirate’s real estate market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317595867/en/ Manchester City Yas Residences by Ohana (Photo: AETOSWire) Investors queued at the sales launch, reflecting the strong demand for the project. Of the investors, 35% are Emiratis, while 65% are expatriates and international buyers. In response to this significant interest, Ohana Development is expected to release additional inventory from the project soon. In his comments, Husein Salem, CEO of Ohana Development, said: "We would like to express our sincere appreciation to the UAE government and its visionary leadership for fostering a stable and forw
Speech Processing Solutions Launches Philips SpeechLive Health, an AI Assistant Built for Modern Clinical Documentation17.3.2026 16:00:00 EET | Press release
Speech Processing Solutions, the global leader in professional dictation and speech solutions sold under the Philips brand, today announced the upcoming April 2026 launch of Philips SpeechLive Health AI Assistant, an AI-powered clinical documentation assistant designed for healthcare professionals across multiple care settings. This solution reduces administrative burden, streamlines documentation, and improves provider and patient experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317743584/en/ Philips SpeechLive Health AI Assistant turns clinical conversations into structured documentation, helping reduce administrative workload and create more time for patient care. Purpose-built for clinical documentation workflows Clinical workload remains a major challenge across healthcare. In the U.S., AMIA’s 2024 TrendBurden survey found that 77% of healthcare professionals said documentation makes them work late or at h
Coherent Solutions Releases Research on AI-driven Fraud Prevention in Banking and Finance and the Best AI Models for Banks17.3.2026 16:00:00 EET | Press release
Coherent Solutions has released a Future of Finance research illustrating how AI is advancing fraud detection in financial services. The research offers financial institutions a strategic framework to address rising and more sophisticated fraud techniques with adaptive, human-in-the-loop AI systems, based on the firm’s extensive experience in AI engineering. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317526196/en/ Coherent Solutions releases research on AI-driven fraud prevention. This white paper addresses the modern threat of transaction fraud, which is becoming faster and smarter while conventional rule-based systems lag, leaving financial institutions exposed. Banks, credit lenders, and financial institutions that adopt AI and machine learning can reduce fraud losses by up to 50% and detect anomalies in real time. When implemented with proper governance and human oversight, AI systems also make audits smoother and
The Swoosh Meets the ‘b’: Beats and Nike Unveil Historic First-Ever Collaboration for Powerbeats Pro 217.3.2026 16:00:00 EET | Press release
Today, Beats and Nike announced the first hardware collaboration in their shared history: Powerbeats Pro 2 – Nike Special Edition. In a landmark design shift, Beats has—for the first time—shared its iconic earbud real estate with a partner, featuring the Nike Swoosh on the right bud and the signature Beats “b” on the left. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317159868/en/ Powerbeats Pro 2 - Nike Special Edition The limited-edition release marries Nike’s high-energy “Volt” color palette with the industry-leading audio tech of the Powerbeats Pro 2. The result is a performance tool built to bridge the gap between elite sport and street style. The Nike Special Edition arrives in a striking matte black, Volt-speckled charging case. Upon opening, users are greeted by Nike’s “JUST DO IT” mantra printed inside the lid. While the aesthetic is new, the internals are pure power: Pro-Level Sound: Adaptive Active Noise Canc
Moody’s Ratings Becomes First Credit Rating Agency to Bring Independent Credit Analysis to Blockchain Financial Infrastructure17.3.2026 16:00:00 EET | Press release
Moody’s Corporation (NYSE: MCO) today announced that Moody’s Ratings has launched its network-agnostic Token Integration Engine™ (TIE), becoming the first credit rating agency to ingest analytical data and share credit insights on-chain. As an inaugural step, it is the first rating agency to operate a node on the Canton Network. The milestone marks a significant step in Moody’s commitment to digital innovation, intending to enable secure, compliant, and efficient ingestion of data and dissemination of ratings enabled by technology built for integration across platforms. “As financial markets digitize, the need for independent, trusted risk analysis and credit insights does not change,” said Fabian Astic, Managing Director and Global Head of Digital Economy at Moody’s Ratings. “Moody’s Ratings is extending that rigor to digital market infrastructure consistent with global regulatory expectations and our governance, transparency, and compliance practices.” Moody’s Ratings’ TIE serves as
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