Boehringer, Vitae ink $242 Million Alzheimer’s Deal

Germany's Boehringer Ingelheim has signed a deal worth up to $242 million with U.S. biotech company Vitae Pharmaceuticals to research and develop new Alzheimer's drugs, the companies said. Vitae will get $42 million upfront - consisting of cash, an equity investment and near-term research funding - and will also be eligible for $200 million in pre-commercial milestone payments, depending on the progress of products in development. Vitae may receive additional commercial performance payments and royalties from Boehringer on potential future sales.