Boehringer Ingelheim’s pipeline activity: A busy year of dealmaking for the German pharma in 2025

As we come toward the end of 2025, it is fair to say that German pharma giant Boehringer Ingelheim has had a busy year of dealmaking. Over the past 12 months, the family-owned drugmaker has moved to strengthen its pipeline, pursuing partnerships that have deepened its focus on autoimmune diseases, oncology, and ophthalmology. The flurry of activity underscores Boehringer’s ambition to accelerate growth in its core therapeutic areas while simultaneously broadening its horizons with innovative technologies and early-stage assets.  

In this article, we take a closer look at Boehringer Ingelheim’s pipeline focus areas and how the deals it has made this year have expanded its therapeutic arsenal. 

Boehringer Ingelheim expands commitment to autoimmune disease research in 2025 

Immunology has long been one of Boehringer Ingelheim’s core therapeutic areas; as far back as 2009, the company entered into a collaboration with Exelixis to develop S1P1 receptor agonists targeting autoimmune diseases. Since then, this focus has intensified, and the pharma giant has embraced up-to-date, innovative approaches, such as small molecules and bispecifics.  

This year, that trend has continued, as Boehringer Ingelheim struck three major autoimmune disease deals.  

Boehringer Ingelheim strikes deals with Cue Biopharma and CDR-Life to enter B-cell depletion space  

The first major autoimmune deal for Boehringer Ingelheim came in April, when the German pharma decided to join the wave of companies entering the B-cell depletion space by paying Cue Biopharma $12 million upfront for its preclinical bispecific compound, CUE-501.  

Targeting B cells to treat autoimmune diseases has become extremely popular in recent years, as B cells contribute to certain autoimmune diseases by producing autoantibodies that mistakenly attack the body’s own tissues.  

CUE-501 works by binding to a B-cell-specific membrane protein while simultaneously engaging virus-specific memory killer T cells. Essentially, it is designed to make B cells appear as if they are infected with a virus, such as cytomegalovirus or SARS-CoV-2; as most people have been exposed to these viruses, the body’s existing memory cytotoxic T cells should recognize and attack the cells they perceive as virus-infected.  

This enables the candidate to selectively deplete B cells and dampen autoimmune and inflammatory processes, potentially offering improved benefit and safety compared to other therapeutic approaches targeting B cells. The candidate also has the potential to reach patients with autoimmune diseases earlier in their treatment journey and achieve long-term disease control.  

The collaboration and license agreement with Cue Biopharma allows Boehringer Ingelheim to elect additional or alternative compounds targeted at B-cell depletion, plus the German pharma will be able to commercialize these compounds and take responsibility for all further development. Ultimately, the deal represents a strategic expansion of Boehringer Ingelheim’s pipeline portfolio in both autoimmune and inflammatory diseases.  

Just last month, Boehringer Ingelheim expanded its collaboration with CDR-Life – the two companies already have a longstanding retinal health partnership – with a new global licensing agreement to develop CDR-Life’s antibody-based trispecific T-cell engager, CDR111, which also activates T cells in order to selectively target and deplete rogue B cells and achieve an immune system reset.  

“We are excited to expand upon our work with CDR-Life and apply their trispecific M-gager approach to autoimmune and inflammatory diseases with high unmet need, further broadening our differentiated pipeline,” said Carine Boustany, US Innovation Unit Site head and global head of Immunology and Respiratory Diseases at Boehringer Ingelheim, in a press release. “We see strong potential for CDR111 to demonstrate a deep and durable immune reset that may deliver transformative options for patients living with serious autoimmune disease.”   

Boehringer Ingelheim licenses small molecule program from Kyowa Kirin 

Furthermore, in October, Boehringer Ingelheim swooped in for a different kind of autoimmune deal; this time, it decided to license a preclinical small molecule program from Kyowa Kirin. The two companies were already familiar with one another after signing a pact last year to work on fibro-inflammatory diseases. 

The public details of this agreement, just as with the one last year, were decidedly vague. What we do know, however, is that Boehringer Ingelheim “has licensed a preclinical program from Kyowa Kirin to develop a potential first-in-class, small molecule for the treatment of autoimmune diseases,” and that, consequently, the program adds to Boehringer Ingelheim’s pipeline and “its commitment to deliver breakthrough therapies for patients with inflammatory diseases.”  

Additionally, when it comes to the financial side, Boehringer Ingelheim agreed to pay Kyowa Kirin up to €640 million ($742 million), including an upfront payment and milestone payments.  

Eye diseases: A new focus in Boehringer Ingelheim’s pipeline 

A slightly newer strategic focus in Boehringer Ingelheim’s pipeline is ophthalmology. The company has been gradually building an eye health pipeline over the last few years and now has several candidates currently in phase 2 trials for eye diseases like diabetic macular edema, diabetic retinopathy, and geographic atrophy.  

In a conversation earlier this year with Fierce, Boehringer Ingelheim’s chief medical officer, Lykke Hinsch Gylvin, described ophthalmology work as “fairly new for Boehringer,” but said it had already been “recognized by clinicians as something to look out for.” 

One of the company’s first major eye disease deals came back in 2019, when it partnered with Inflammasome Therapeutics to develop novel therapies for patients with retinal diseases using Inflammasome’s intravitreal drug delivery technology. A year later, the German pharma then made its first connection with CDR-Life to develop antibody fragments for geographic atrophy. This led to the progression of the candidate BI 771716, which is currently being tested in a phase 2 trial that is expected to be completed in October 2026. 

In 2022 and 2023, Boehringer Ingelheim made two more eye disease deals – with Surrozen to research and develop SZN-413 for the treatment of retinal diseases, and with RetinAI to make use of RetinAI’s discovery platform and artificial intelligence (AI) tools, respectively.  

Meanwhile, this year, it seems like the pharma’s interest in the field has intensified as it doubled down on ophthalmology deals, forming two major eye disease partnerships. The first was a strategic collaboration and license agreement with Re-Vana Therapeutics in July to develop long-acting ophthalmic therapies. The deal was worth $1 billion – a sum that shows just how interested Boehringer Ingelheim has become in the field.  

The German pharma’s second deal of the year was made around a month later, on August 18, with Palatin Technologies to develop a potential first-in-class melanocortin receptor-targeted treatment for patients with diabetic retinopathy. According to the press release of the announcement, melanocortin receptor agonists offer a promising, differentiated mechanism that targets key drivers of retinal diseases, including diabetic retinopathy.  

Oncology, cardio-renal-metabolism, and pulmonology: A long-term commitment to these fields 

As with many big pharma companies, oncology has long been a major focus area for Boehringer Ingelheim; that focus has certainly not shown any signs of wavering in 2025 as the company has made three significant cancer deals this year.  

It kicked off its oncology dealmaking first thing this year, in January, by licensing Synaffix’s antibody-drug conjugate (ADC) technology. According to the press release, the partnership significantly bolstered the pharma’s ADC portfolio, which is driven by its subsidiary, NBE Therapeutics. In keeping with its ADC focus, the company also made a pact more recently with AimedBio to develop a novel ADC therapy for a broad range of cancers. The new asset from this collaboration is expected to enter first-in-human studies next year.  

Boehringer Ingelheim’s other cancer deal came in April with Tessellate Bio to develop treatments targeting tumors dependent on alternative lengthening of telomeres (ALT) for their growth. This feature is present in 10-15% of all cancers and is associated with poor prognosis and a lack of targeted therapies. 

Two other key focus areas for Boehringer Ingelheim are cardio-renal-metabolic diseases and pulmonology (pulmonology also overlaps with the company’s immunology focus), with the company having a long-standing dedication toward these fields.  

The company has several cardio-renal-metabolic candidates in its pipeline in phase 1, phase 2, and phase 3 trials. In March, it also entered into a research and license agreement with Salipro Biotech to advance the discovery and development of new therapeutic solutions targeting G protein-coupled receptors (GPCRs), ion channels, transporters, and other integral membrane proteins in therapeutic areas such as cardio-renal-metabolic diseases. 

Meanwhile, in terms of pulmonology, it is fair to say that Boehringer Ingelheim is a pioneer in the treatment of idiopathic pulmonary fibrosis (IPF), a chronic lung disease where the lungs become scarred, making it increasingly difficult to breathe. In October this year, more than 10 years after it brought one of the first IPF drugs to the market in Ofev, the German pharma doubled down on its legacy in the indication after the U.S. Food and Drug Administration (FDA) approved its drug Jascayd. The new IPF treatment marks a significant step forward for the IPF space, as it was the first drug to be approved in more than a decade in a market that only included Ofev and Roche’s Esbriet.  

Boehringer Ingelheim has also dipped its toes in AI technology to add to its pulmonary fibrosis research; last year, it formed a strategic partnership with Brainomix, which focuses on an opportunity for AI imaging analysis using Brainomix’s 360 e-Lung on routine CT scans to accelerate the diagnosis and improve access to treatment for people living with fibrosing lung disease. 

Furthermore, according to the German pharma’s website, its broader pulmonology/respiratory efforts also include treatments for asthma, chronic obstructive pulmonary disease (COPD), systemic sclerosis-associated interstitial lung disease (SSc-ILD), and progressive fibrotic interstitial lung diseases.  

What does 2026 hold for Boehringer Ingelheim’s pipeline?  

While Boehringer Ingelheim’s 2025 pipeline and dealmaking provide a clear outlook of which areas the company is currently interested in, will any of its focuses change next year? 

Although uncertain, it is quite likely that the company’s ambitions will stay the same. This is largely based on the fact that, apart from its slightly newer focus on eye diseases, its core therapeutic areas have remained the same for many years now.  

The one area we have not mentioned yet where the company could potentially expand its focus is in mental health; it currently has a few product candidates in its pipeline, namely a phase 3 prescription digital therapeutic for schizophrenia, and a phase 2 NMDA subunit 2b-selective negative allosteric modulator for major depressive disorder. Additionally, mental health was included as a potential therapeutic area to focus on in its GPCR deal this year with Salipro Biotech, and last year, it entered into a global collaboration and exclusive option-to-license agreement with Sosei Heptares to develop and commercialize Sosei’s portfolio of first-in-class GPR52 agonists for schizophrenia, and it pledged $5 million to a WHO Foundation mental health initiative.  

This recent activity could signal that Boehringer Ingelheim will seek more mental health deals next year, making it more of a key focus for the company.  

The pharma could also potentially enter into more AI-focused partnerships. It already leverages the technology across its entire value chain, from early research through to development, production, and distribution of products, and has made several AI deals in recent years, including the ones mentioned in this article and a partnership with Google Quantum AI for quantum computing in early 2021. As more AI technologies enter the biopharma industry, it is likely that many big pharma companies will want to get their hands on these to speed up drug development.  

Whatever Boehringer Ingelheim decides to focus on in the future, after such a big year of dealmaking in 2025, it is likely that its pipeline expansion will continue next year. And there seems to be a lot to look forward to for the German giant, as last year it said it was turning its attention to a deep late-stage pipeline that could bring 25 new treatments to market over the next decade.