Boehringer Ingelheim enters $54 million drug discovery collaboration

Boehringer Ingelheim has entered into $54 million research and licensing deal with TransTech Pharma.

The agreement will allow Boehringer access to TransTech’s TTP Translational Technology, with the aim of discovering new small molecules which could be used in yet undisclosed treatments.

The agreement will allow Boehringer the right to develop and market any compounds produced as a result of the agreement. TransTech will receive an upfront payment as well as future payments for research and royalties.

Boehringer’s head of the pharmaceutical research Professor Mikael Dolsten said that his company “recognizes the importance of collaborating with specialized biotech companies to discover new lead chemical structures against challenging biological targets”.

“The coupling of Boehringer Ingelheim’s development capabilities and our discovery engine, TTP Translational Technology, is a powerful combination designed to result in the expedited discovery of novel, safe and effective clinical drug candidates,” added Adnan Mjalli, CEO of Transtech.

The German based Boehringer Ingelheim has offices in 45 countries.

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