Medical University of Innsbruck immunotherapy spinout ViraTherapeutics has been bought for $245m by its existing shareholder Boehringer Ingelheim, enabling EMBL to exit.
ViraTherapeutics (ViraT), an Austria-based immuno-oncology spinout of Medical University of Innsbruck, was acquired by pharmaceutical firm Boehringer Ingelheim yesterday for €210m ($245m), allowing European Molecular Biology Laboratory (EMBL) to exit.
Founded in 2013, ViraT develops oncological drugs based on cancer-fighting, or oncolytic, viruses that have been engineered to leave normal tissue unharmed while destroying cancerous cells.
The spinout is commercialising research by Dorothee von Laer, head of the division of virology at the university. Its lead asset is…
