Westmeath man's company in potential €1bn deal with German pharma giant

A company co-founded by a Westmeath native recently agreed a multi-year partnership with a German pharmaceutical giant which could potentially be worth more than $1 billion.

Ochre Bio, which was co-founded by Mount Temple native Jack O'Meara and focuses on new treatments for liver disease, announced the partnership deal with German firm Boehringer Ingelheim.

It said the collaboration between the two companies would see Ochre Bio receive up to $35 million in upfront and near-term research-based milestone payments.

"Ochre may also receive milestones for clinical, regulatory, and commercial success as well as tiered royalties, with an overall deal value with the potential to exceed $1 billion," the company said.

Jack O'Meara founded Ochre Bio with Quin Wills after the pair met in 2019.

The company is headquartered in Oxford, England, and its approach to developing treatments, which involves testing products directly on donated human livers that are unsuitable for transplant use, has attracted plenty of interest in the pharmaceutical world.

In 2022, it was announced that the Ochre Bio had raised $40 million in investment toward new treatment development. Last year - just before his 30th birthday - Jack was named on Forbes magazine's '30 Under 30 Europe List' for 2023, which recognises people under the age of 30 who are breaking new ground in their in their respective fields.

A son of Anne Russell and Paul O'Meara, he is a past pupil of the Marist College and Moate Community School.

Ochre Bio said its deal with Boehringer Ingelheim was "focused on the discovery and development of novel, first-in-class regenerative treatments" for late-stage chronic liver diseases.

When contacted by the Westmeath Independent about the deal, Jack said: "We're really delighted to be partnering with a group that has been so dedicated to liver disease research for so long.

"In medicine, pharmaceutical companies tend to shift strategies quite a lot, and liver disease has fallen out of favour with most for a long time, but Boehringer has stayed committed to those patients.

"In addition, it will be a great opportunity for our team to learn from and work with experienced drug developers to mature our thinking and combine forces to move potentially life-saving treatments forward," he added.