Vitae Pharma: Boehringer To End License Agreement For BACE Inhibitors

(RTTNews) - Vitae Pharmaceuticals, Inc. (VTAE) announced that Boehringer Ingelheim has notified the company that Boehringer is ending the collaboration and license agreement for orally-active beta secretase inhibitors for the treatment and prevention of Alzheimer's disease and other indications. Boehringer Ingelheim said it is exercising its right to terminate the agreement for strategic business reasons.

Jeff Hatfield, President and CEO of Vitae, said: "With the termination of this agreement, Vitae expects to receive the rights to the BACE program, most notably BI-1147560 / VTP-36951, and to work with BI to effect an orderly transfer. We plan to assess the program to determine the appropriate next steps."