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
Inspirit Capital Completes Acquisition of Kaplan Languages Group1.5.2026 02:17:00 EEST | Press release
Inspirit Capital, a specialist investor in corporate carve-outs, and Kaplan, the global education company, have announced the completion of Inspirit’s acquisition of Kaplan Languages Group (KLG) from Kaplan. Financial terms are not being disclosed. KLG, a leading global language education platform, comprises Kaplan International Languages, Alpadia Language Schools, Azurlingua, and ESL Education. Inspirit Capital will support KLG in delivering on its ambitious growth plans, whilst continuing its fundamental mission to transform lives through language education. The next phase of ownership will see the development and launch of a refreshed standalone brand identity for KLG, with further announcements to follow on this in due course. KLG will continue to use the Kaplan name under a transitional license from Kaplan, Inc. until a new brand is announced. About Kaplan Languages Group Since 2006, KLG has provided the highest quality language education and cultural immersion experiences. Kaplan
Grindr Nominates Three New Directors to Its Board of Directors1.5.2026 00:16:00 EEST | Press release
Grindr Inc. (NYSE: GRND), the Global Gayborhood in Your Pocket™, today announced the nomination of Rob Solomon, Lisa Gersh, and Fadi Hanna to stand for election to its Board of Directors at the Annual Meeting of Shareholders on June 2, 2026. Rob Solomon is a deeply seasoned technology CEO and operator in consumer internet and marketplaces. He has held CEO and COO roles at scaled platforms including GoFundMe, Groupon, and Kayak-predecessor SideStep, and is currently CEO of leading electric aviation company H55. Lisa Gersh is a CEO and long-tenured public company director with deep experience across consumer brands, media, and commerce. She has served on the Hasbro (NASDAQ: HAS) board since 2010 and has led businesses including Oxygen Media, GOOP, and Alexander Wang. Fadi Hanna is Chief Risk Officer at Bloomberg L.P., overseeing enterprise risk across the organization. He previously worked at J.P. Morgan and has served on the board of Immigration Equality. “Over the last few years, we bu
The Empire State Building Celebrates 95 Years as the ‘World’s Most Famous Building’30.4.2026 23:42:00 EEST | Press release
The Empire State Building (ESB), the “World’s Most Famous Building,” will celebrate its 95th anniversary on May 1, 2026, with new offers at the Empire State Building Observation Deck, a special birthday tower lighting display, and a slate of celebrations to honor its legacy and future. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430693323/en/ The Empire State Building Celebrates 95 Years as the ‘World’s Most Famous Building’ “The Empire State Building celebrates its 95th anniversary, still the ‘World’s Most Famous Building,’ a modernized, sustainability leader as technologically advanced today as the day she was completed, and the winner of #1 Top Attraction in the United States in Tripadvisor’s Travelers’ Choice Awards for 2026,” said Anthony E. Malkin, chairman and CEO of Empire State Realty Trust. Anniversary Offerings and Experiences To mark its 95th anniversary, the Empire State Building will debut new experiences
MRM Health’s Lead Candidate MH002 Granted Fast Track Designation by U.S. FDA for the Treatment of Mild-to-Moderate Ulcerative Colitis30.4.2026 23:17:00 EEST | Press release
MRM Health, a clinical-stage biopharmaceutical company developing therapeutics for immune-mediated diseases, which unlock the power of the microbiome to restore immune balance, today announced that MH002, the Company’s lead rationally designed Live Biotherapeutic Product (LBP) candidate, has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of mild-to-moderate ulcerative colitis (UC). MH002 today is the most advanced LBP targeting inflammatory bowel disease (IBD)-specific mechanisms and is composed of a rationally designed microbial consortium of six well-characterized commensal strains. The FDA’s Fast Track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need. The purpose is to get important drugs to patients earlier. Fast Track designation enables frequent communication with the FDA to discuss the drug's development plan and ensure collection o
Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results30.4.2026 23:01:00 EEST | Press release
Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced results for the fiscal first quarter ended March 31, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430598629/en/ Rimini Street Announces Fiscal First Quarter 2026 Financial and Operating Results “Our first quarter results reflect continued growth and accelerating momentum in our core Rimini Support™ business as organizations turn to the proven Rimini Smart Path™ to execute their global ERP and operational transaction processes faster, better and cheaper with more agility and speed to value – all within existing budgets,” said Seth Ravin, president and CEO, Rimini Street. “We help organizations avoid unnecessary, costly and risky ERP and other enterprise software upg
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