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U of Basel drug delivery start-up acquired by Boehringer Ingelheim for over $500M

A University of Basel start-up is being acquired by German pharma company Boehringer Ingelheim for its novel drug delivery technology.

Founded in 2015 by University of Basel researcher Simon Ittig, T3 Pharmaceuticals has developed a method to use live bacteria as a vessel for delivering therapeutic proteins to cancer cells and the tumor microenvironment. The start-up’s main product, T3-Y058-739, is currently being tested in a Phase I clinical trial.

Boehringer Ingelheim will spend up to 450 million Swiss francs (over $513M US) on the acquisition.

“It’s a motivating example for young researchers at the University of Basel,” Torsten Schwede, vice president for research at the university, says of the acquisition. “Simon Ittig has proven that you can be successful with a university start-up if you consistently pursue an idea.”

Source: University of Basel

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