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- Nerio Therapeutics
Nerio Therapeutics Acquisition, Valuation, Funding & Investors
Nerio Therapeutics was acquired by Boehringer Ingelheim for $1.3B in July 2024.
Nerio Therapeutics acquisition price
$1.3B
Acquired by Boehringer Ingelheim · Jul 2024
Cumulative funding Nerio Therapeutics raised
$7M
across 2 funding rounds
Key investors in Nerio Therapeutics
Viva BioInnovator
Nerio Therapeutics Overview
About Nerio Therapeutics
Nerio Therapeutics is a La Jolla-based biotechnology company advancing therapies in the life sciences sector. Incorporated in 2019, the firm targets neurological disorders through small molecule modulators of ion channels, with its lead candidate in Phase I trials for epilepsy. Nerio collaborates with CROs in San Diego and has secured grants from NIH for its proprietary screening platform.
Founded
2019
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.3B (acquired Jul 2024)
Sectors
Nerio Therapeutics Acquisition
Nerio Therapeutics was acquired by Boehringer Ingelheim for $1.3B on 29 July 2024.
Before the acquisition Nerio Therapeutics had raised $7M across 2 funding rounds.
Nerio Therapeutics, a La Jolla, California-based drug discovery and development company, developed small molecule inhibitors targeting protein tyrosine phosphatases PTPN1 and PTPN2, novel immune checkpoint inhibitors that enhance anti-tumor activity by regulating cytokine and T cell receptor signaling, reshaping the tumor microenvironment in preclinical models. The company, co-founded and led by CEO Sanford Madigan (also a partner at Avalon BioVentures) and incubated by Viva BioInnovator, addressed challenges in selectivity and druggability of phosphatase inhibitors, with plans for IND submission in the second half of 2024. Boehringer Ingelheim, a German biopharmaceutical company focused on human and animal health, acquired Nerio on July 29, 2024, for up to $1.3 billion to bolster its immuno-oncology pipeline. The deal provides Boehringer with Nerio's preclinical program, positioned as a potential centerpiece for its oncology portfolio, enabling use as monotherapy or in combination with in-house cancer therapies to benefit patients unresponsive to existing checkpoint inhibitors. Strategic rationale emphasizes creating broad combination opportunities, accelerating development via Boehringer's phosphatase and tumor immunotherapy expertise, and advancing toward 25 new treatments by 2030, including oncology focus. Paola Casarosa, Boehringer's Board Member for the Innovation Unit, highlighted the program's transformative potential for cancer care. This marks Boehringer's second major $1.3 billion oncology-related acquisition in 2024, following Ochre Bio for liver diseases, amid aggressive pipeline expansion with new mid-to-late stage trials in oncology and other areas. Nerio's inhibitors offer first-in-class drug-like properties and a mechanistically unique approach, validated by the deal as a strong endorsement of Viva BioInnovator's investment strategy.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 29 Jul 2024 | Strategic M&A | $1.3B |
Nerio Therapeutics Funding History
Nerio Therapeutics has raised a total of $7M across 2 funding rounds.
Nerio Therapeutics' first fundraising round was a $3M seed round in July 2020. The most recent completed round was a $4M seed round in October 2021.
Nerio Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2021 | Seed | Viva BioInnovator | $4M | Nerio Therapeutics raised USD 3.5 million in venture financing around August 2021. The company developed small molecule PTPN1/N2 inhibitors for immuno-oncology applications. Investors included Viva BioInnovator, Avalon BioVentures, Bregua Corporation, Correlation Ventures, and Alexandria Venture Investments. Nerio was incubated by Viva BioInnovator and developed in the Avalon BioVentures accelerator. Overall, Nerio raised $6.5 million across 4 rounds before its acquisition. |
| Jul 2020 | Seed | - | $3M | Nerio Therapeutics is a biotechnology company developing small molecule inhibitors targeting PTPN1/N2 phosphatases for immuno-oncology applications. The company's preclinical program focuses on novel immune checkpoint inhibitors that reshape the immune landscape and demonstrate anti-tumor activity as monotherapy or in combination therapies. Founded by Avalon Ventures and developed in its BioVentures accelerator, Nerio received early financial support from investors including Bregua Corporation, Correlation Ventures, Alexandria Venture Investments, and Viva BioInnovator. Around July 2020, the company raised approximately $3M in an equity round, followed by a $3.5M equity raise in October 2021. In July 2024, Boehringer Ingelheim acquired Nerio for up to $1.3 billion to enhance its oncology pipeline with these first-in-class inhibitors. |
Who has invested in Nerio Therapeutics?
1 investor has backed Nerio Therapeutics across its funding rounds, including Viva BioInnovator.
Nerio Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialNerio Therapeutics Competitors
Nerio Therapeutics competitors include listed companies like Maze Therapeutics, Vor Biopharma, Aktis Oncology and GNI Group, and private ones like Brickell Biotech and Kallyope.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.3B | - | ||
| Publicly listed | - | ($140M) | $1.3B | 66.5x | ||
| Publicly listed | - | ($699M) | $1.3B | - | ||
| Publicly listed | $6M | ($72M) | $1.3B | 61.0x | ||
| Private | - | - | $1.3B | - | ||
| Publicly listed | $173M | ($15M) | $1.3B | 5.6x |
Nerio Therapeutics Public Comps
Nerio Therapeutics is no longer listed, but its public comps include Maze Therapeutics, Vor Biopharma, Aktis Oncology, GNI Group, HBM Holdings, ORIC Pharmaceuticals, Omeros, Celltrion Pharm, Immatics and MeiraGTx.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($140M) | - | 66.5x | (6.8x) | (5.6x) | |||
| - | ($699M) | - | - | (1.2x) | (3.6x) | |||
| $6M | ($72M) | 117.6x | 61.0x | (10.6x) | - | |||
| $173M | ($15M) | 7.6x | 5.6x | (87.9x) | 644.2x | |||
| $158M | $86M | 6.7x | 5.0x | 12.4x | 11.2x | |||
| - | ($128M) | - | - | (8.4x) | (6.4x) | |||
| - | ($7M) | - | 15.0x | (196.0x) | - | |||
| $390M | $55M | 3.3x | - | 23.3x | - | |||
This data is available for Pro users. Sign up to see all Nerio Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Nerio Therapeutics
| When was Nerio Therapeutics founded? | Nerio Therapeutics was founded in 2019. |
| Where is Nerio Therapeutics headquartered? | Nerio Therapeutics is headquartered in San Diego, CA, United States. |
| Is Nerio Therapeutics publicly listed? | No, Nerio Therapeutics was acquired by Boehringer Ingelheim in July 2024. |
| Who acquired Nerio Therapeutics? | Nerio Therapeutics was acquired by Boehringer Ingelheim in July 2024. |
| How much was Nerio Therapeutics acquired for? | Nerio Therapeutics was acquired for $1.3B in July 2024. |
| How much funding has Nerio Therapeutics raised? | Nerio Therapeutics has raised $7M across 2 funding rounds. |
| What was Nerio Therapeutics' last funding round? | Nerio Therapeutics' last funding round was a $4M seed round in October 2021. |
| Who are Nerio Therapeutics' investors? | Nerio Therapeutics' investors include Viva BioInnovator. |
| Which companies are comparable to Nerio Therapeutics? | Companies comparable to Nerio Therapeutics include Brickell Biotech, Maze Therapeutics, Vor Biopharma, Aktis Oncology, Kallyope and GNI Group. |
See companies similar to Nerio Therapeutics
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