BI Forms $1.2-Billion Deal with Bridge Therapeutics for Lung-Disease DrugBy
Boehringer Ingelheim (BI) has entered into a collaboration and license agreement, in a deal worth up to in up EUR 1.1 billion ($1.2 billion), with Bridge Biotherapeutics, a clinical-stage biopharmaceutical company, to develop Bridge Biotherapeutics’ autotaxin inhibitor, BBT-877, for treating fibrosing interstitial lung diseases, including idiopathic pulmonary fibrosis (IPF).
Under the deal, Bridge Biotherapeutics will receive upfront and near-term payments of EUR 45 million ($50 million). Bridge Biotherapeutics is also eligible to receive up to more than EUR 1.1 billion ($1.2 billion) in potential payments based upon the successful achievement of specified development, regulatory, and commercial milestones and staggered, up to double-digit royalties, according to BI.
Both companies will initially focus on developing the compound for the treatment of IPF. IPF is a rare, lung disease affecting approximately three million people worldwide, according to information from BI. It causes progressive scarring of the lungs, resulting in continual and irreversible deterioration in lung function and breathing difficulties. BBT-877 inhibits autotaxin, an enzyme mediating a key pro-fibrotic event in multiple cell types. The drug is currently in Phase I clinical studies and is anticipated to enter Phase II testing within the next 12 months.
Source: Boehringer Ingelheim