ViraTherapeutics based in Tyrol will be responsible for the preclincial and clinical testing of the main product up until the conclusion of Phase 1 trials. Subsequently, Boehringer Ingelheim has the right to acquire ViraTherapeutics. On balance, according to both companies, the deal has a possible transaction volume of up to EUR 210 million. EUR 20 million will be invested in the cooperation in the first phase.
Spin-off of the Medical University of Innsbruck
ViraTherapeutics is a spin-off of the Medical University of Innsbruck and has been operating for three years. In addition to other investors, the company has already been financed by the Boehringer Ingelheim Venture Fund, serving as a core investor.