Gleiss Lutz advises Boehringer Ingelheim on acquisition of Viratherapeutics
Ingelheim am Rhein, Germany — German pharmaceutical group Boehringer Ingelheim has acquired all shares in Austria-based ViraTherapeutics GmbH, a biopharmaceutical company researching innovative virus-based immunotherapeutics for the treatment of cancer. Through this biotech acquisition with a transaction volume of 210 million euros, Boehringer Ingelheim is further expanding its commitment in this area. Boehringer Ingelheim was advised on this transaction by GleissLutz.
Back in 2016, Boehringer Ingelheim entered into a collaboration with ViraTherapeutics: Their goal was to develop oncolytic viruses, which are among the most promising new therapeutic approaches in cancer research. In this context, the Boehringer Ingelheim Venture Fund (BIVF) was already one of the core investors in the Austrian company. A purchase option had also been agreed as part of the cooperation. Boehringer Ingelheim has now exercised this. Gleiss Lutz had already comprehensively advised Boehringer Ingelheim on the conclusion of the cooperation in 2016.
Boehringer Ingelheim is one of the world’s top 20 pharmaceutical companies. Headquartered in Ingelheim, Germany, Boehringer Ingelheim has 145 affiliated companies worldwide and employs a total of approximately 50,000 people. In 2017, Boehringer Ingelheim generated sales of just under 18.1 billion euros. At more than three billion euros, research & development expenditures correspond to 17.0 percent of sales.
The law firm Maybach Görg Lenneis Geréd Rechtsanwälte GmbH advised on Austrian law.
Dr. Jan Wilhelm Bolt from Boehringer Ingelheim’s legal department was in charge of the transaction.
Advisor Boehringer Ingelheim: Gleiss Lutz
Dr. Martin Viciano Gofferje (Partner, Lead, Corporate/M&A, Berlin), Dr. Alexander Schwarz (Partner, Corporate/M&A, Düsseldorf) and Dr. Herwig Lux (Counsel, IP, Stuttgart) advised Boehringer Ingelheim on this transaction.