Just months after trimming its development pipeline, OSE Immunotherapeutics is making additional cuts as Boehringer Ingelheim withdraws from the biotech’s metabolic dysfunction-associated steatohepatitis (MASH) program.
The decision mirrors an earlier setback in December, when AbbVie relinquished rights to one of OSE’s inflammation therapies, prompting the company to streamline operations to conserve cash.
According to an announcement, the French biotech is again narrowing its portfolio after its partnered SIRPα antagonist did not demonstrate efficacy in a phase 2 trial involving patients with MASH.
Boehringer has opted to halt development of the therapy for individuals with MASH-related liver cirrhosis but will continue advancing the candidate in oncology, the original focus of the collaboration. The drug, known as BI770371, is being evaluated both as a standalone treatment and in combination with a PD-1 inhibitor for advanced solid tumors, as well as a potential first-line option for recurrent head and neck squamous cell carcinoma.
The candidate works by blocking the so-called “don’t eat me” signal that tumors use to avoid immune system detection. While the phase 2 MASH study failed to meet efficacy goals, OSE said the therapy was generally well tolerated and demonstrated a manageable safety profile.
The companies first partnered in 2018 under a deal valued at up to $1.4 billion biobucks in potential milestones for OSE, an agreement that was later broadened to include cardiometabolic indications.
Following these developments, OSE said it is restructuring its research and development efforts to better execute its previously outlined 2026–2028 strategic roadmap. That three-year strategy was introduced after AbbVie’s exit and centers on two of the biotech’s most advanced programs.
As part of the latest changes, OSE is also suspending work on OSE-230, also known as ABBV-230, an experimental therapy for chronic inflammation that AbbVie discontinued late last year. Under a 2024 agreement, the Illinois-based pharmaceutical company had obtained an exclusive worldwide license to develop, manufacture and market OSE’s anti-ChemR23 monoclonal antibody, which was then in preclinical testing.
However, in December, the partners amended the agreement, returning responsibility for preclinical development and the initial phase 1 trial of OSE-230 to OSE.
With the program now discontinued, OSE said it will continue exploring ways to extract value from the remainder of its pipeline.
The restructuring also includes the termination of research efforts tied to a CLEC-1 oncology initiative. The early-stage myeloid checkpoint target no longer aligns with the company’s near-term clinical development or partnering objectives.
OSE indicated that because no milestone payments had been anticipated over the next three years for the programs being wound down, the adjustments are not expected to affect its cash runway or overall financing strategy.
Going forward, the biotech is concentrating its resources on two primary assets: lusvertikimab, an IL-7-targeting antibody under evaluation in both intravenous and subcutaneous forms, and Tedopi, an off-the-shelf vaccine built around neo-epitope technology.
Lusvertikimab is currently under clinical investigation for ulcerative colitis and may also have applications in chronic pouchitis and hidradenitis suppurativa, while Tedopi is being evaluated as a treatment for non-small cell lung cancer as well as pancreatic and ovarian cancer.
Boehringer Terminates MASH Deal With OSE
Boehringer has decided to terminate its collaboration with OSE Immunotherapeutics on a metabolic dysfunction–associated steatohepatitis (MASH) therapy, marking a strategic move by Boehringer to streamline its development pipeline and focus on higher-priority programs.
The decision follows disappointing mid-stage clinical results for the investigational candidate BI 770371, which failed to demonstrate sufficient efficacy in a Phase 2 study evaluating treatment for MASH-related liver disease. After reviewing the data, Boehringer concluded that further development in this indication would not continue.
Clinical Setback Drives Strategic Shift
The MASH program was part of a broader research collaboration between Boehringer and OSE Immunotherapeutics that originally focused on immuno-oncology before expanding into metabolic diseases.
However, the exploratory Phase 2 trial results did not meet the primary endpoint needed to justify continued investment. As a result, Boehringer discontinued the liver-disease portion of the program while OSE began restructuring its pipeline to concentrate resources on more advanced assets.
Despite the termination of the MASH effort, Boehringer confirmed that development of the same antibody candidate will continue in oncology studies, where the therapy is being evaluated for advanced solid tumors and other cancers.
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