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23 November 2023

T3 Pharmaceuticals AG, a biotechnology company with its headquarter in Allschwil, Switzerland has been acquired by Boehringer Ingelheim, a leading family-owned, research-driven biopharmaceutical company based in Ingelheim, Germany for a total consideration of up to CHF 450 Mio.

Founded in 2015 as a spin-off from the Biozentrum of the University of Basel, T3 Pharmaceuticals specializes in the development of bacteria-based immune-oncology therapies for the treatment of solid tumors and has developed a unique platform using engineered Yersinia enterocolitica bacteria to deliver bioactive proteins directly and selectively into the tumor microenvironment, both extra- and intracellularly, while sparing healthy tissues. The company has received several prestigious startup awards.

Boehringer Ingelheim has already invested in T3 Pharmaceuticals through the Boehringer Ingelheim Venture Fund, a strategic venture fund that invests worldwide in pioneering science with the potential to provide a significant benefit for patients. With this acquisition, Boehringer Ingelheim intends to develop a variety of novel immune-modulatory cancer treatments to advance in the field of cancer immunotherapies and improve patients' long-term remissions due to respective cancer treatment.

VISCHER advised the sellers of T3 Pharmaceuticals on all legal aspects related to the transaction. The VISCHER team was led by Christian Wyss (Partner, Corporate/M&A) with Nadia Tarolli (Partner, Tax), Luzius Zumstein (Managing Associate, Corporate/M&A), Nora Heuberger (Managing Associate, Tax), Adrian Briner (Managing Associate, Tax), Lukas Wendt (Associate, Corporate/M&A), Alessandro Meyer (Associate, Corporate/M&A), Barbara Bodlak (Associate, Tax), Sonja Dätwyler (Junior Associate, Corporate/M&A), and Sophie Zimmermann (Junior Associate, Corporate/M&A).