The Munich-based startup Breath Therapeutics was acquired by the Italian Zambon Group for a sum of up to 500 million euros bought up.
Breath Therapeutics specializes in the development of inhalation solutions for severe lung diseases. The pharmaceutical company Zambon paid up to 500 million euros for the acquisition. According to Handelsblatt, this could be the third largest takeover in the German biotech sector.
Breath Therapeutics has already received over 43 million euros in Series A
Back in 2017, the company raised approximately €43.5 million in one of Europe's largest Series A rounds to date. With the support of the investors, two studies were conducted on inhalation therapy solutions for the rare lung disease Bronchiolitis Obliterans Syndrome (BOS). There is currently no approved treatment for this often fatal disease.
The Belgian, who is also based in Munich, Investor Gimv participated in March 2017 along with other investors, together with Sofinnova Partners from France, as lead investor in the biotech startup. Pari Pharma served as licensor for the inhalation devices. Breath Therapeutics, as a Pari spin-off, was able to further develop the solution, tested the product in pivotal clinical trials, and simultaneously built a team of experts in Europe and the USA. Preparations are now continuing for the market launch.
“The potential of Breath Therapeutics and the active ingredient was clear to us at an early stage, as lung diseases are unfortunately increasing rapidly — particularly due to environmental factors and changing lifestyles,”
explained Karl Nägler, Partner and responsible for the Health & Care platform at Gimv Germany. He continues:
“Against this backdrop, Breath Therapeutics, with the support of Zambon, is in an excellent position to successfully market the product in the future and to open up new fields of application.”
Jens Stegemann, CEO of Breath Therapeutics, adds:
"With this active ingredient, Breath Therapeutics has developed a product that can significantly improve the lives of many people. Thanks to Zambon's infrastructure, expertise, and clear focus on research and development, we can accelerate these processes even further and make the treatment available to as many people as possible as quickly as possible."
