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

United StatesSan Diego, CA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.3B (acquired Jul 2024)

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.

Nerio Therapeutics acquisition details
AcquirerDateTypePrice
  • Boehringer Ingelheim
29 Jul 2024Strategic 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

Nerio Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2021SeedViva BioInnovator$4MNerio 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 2020Seed-$3MNerio 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

Investors in Nerio Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 Nerio Therapeutics investors.

Start Free Trial

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 Trial

Nerio 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.

Public and private companies comparable to Nerio Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Brickell BiotechUnited StatesMiami, FLPrivate--$1.3B-
Maze TherapeuticsUnited StatesUnited StatesPublicly listed-($140M)$1.3B66.5x
Vor BiopharmaUnited StatesUnited StatesPublicly listed-($699M)$1.3B-
Aktis OncologyUnited StatesUnited StatesPublicly listed$6M($72M)$1.3B61.0x
KallyopeUnited StatesNew York City, NYPrivate--$1.3B-
GNI GroupJapanJapanPublicly listed$173M($15M)$1.3B5.6x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Maze Therapeutics-($140M)-66.5x(6.8x)(5.6x)
Vor Biopharma-($699M)--(1.2x)(3.6x)
Aktis Oncology$6M($72M)117.6x61.0x(10.6x)-
GNI Group$173M($15M)7.6x5.6x(87.9x)644.2x
HBM Holdings$158M$86M6.7x5.0x12.4x11.2x
ORIC Pharmaceuticals-($128M)--(8.4x)(6.4x)
Omeros-($7M)-15.0x(196.0x)-
Celltrion Pharm$390M$55M3.3x-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

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial