Nerio Therapeutics

About Nerio Therapeutics

Nerio Therapeutics, Inc. operates as a biopharmaceutical firm with a specialized focus on empowering phosphatase drug discovery for immunotherapy applications. Founded in 2019 by Avalon Ventures, the company originated within the Avalon BioVentures accelerator, which provided foundational expertise in early-stage drug development. The company's co-founder, Sanford Madigan, also served as its CEO and is a partner at Avalon BioVentures.

The core of Nerio's business is the development of small molecule phosphatase modulators. Specifically, the company has created first-in-class inhibitors for PTPN2/N1, which are proteins that act as immune checkpoints. These inhibitors are designed to enhance the body's immune function and increase the sensitivity of tumors to pro-inflammatory signals, thereby promoting a robust anti-tumor response. The technology leverages expertise in protein phosphatases, high-throughput screening, and structure-guided chemistry to create selective and bioavailable small molecule therapeutics. This approach targets a class of proteins—phosphatases—that have historically been considered difficult to drug.

The company's primary clients are in the biopharmaceutical industry, with its technology positioned as a key component for immuno-oncology portfolios. The business model centered on the discovery and preclinical development of these novel drug candidates. In a significant milestone, Nerio Therapeutics was acquired by Boehringer Ingelheim in July 2024 for a total of up to $1.3 billion. This acquisition integrated Nerio's preclinical program into Boehringer Ingelheim's immuno-oncology pipeline, with plans to develop the PTPN1/N2 inhibitors as both standalone therapies and in combination with other cancer treatments. Prior to the acquisition, Nerio had secured financial backing from a syndicate of investors including Bregua Corporation, Correlation Ventures, Alexandria Venture Investments, and Viva BioInnovator.