Singapore-based biotech company Enleofen Bio is selling the worldwide exclusive rights of its biotech platform, Eneleofen’s preclinical interleukin-11 (IL-11), to global pharma major Boehringer Ingelheim, according to a press statement.
This deal is said to be the largest for any biotech company in Singapore so far, and amongst the biggest for preclinical stage programmes globally.
Following this deal, Boehringer Ingelheim will pay Enleofen earnout payments of over $1 billion for each new product in success-based development and commercialization milestones by the company.
Boehringer Ingelheim will accelerate the IL-11 platform and products towards clinical development. Boehringer could develop further the IL-11 into viable drugs to treat different fibrosis-related issues.