Bayer to Acquire KaNDy Therapeutics for up to $875 Million
The company will use the acquisition to further its drug development pipeline in women’s healthcare.
Bayer announced on August 11, 2020 that it is acquiring KaNDy Therapeutics, a United Kingdom-based clinical-stage biotechnology company, to further its drug development pipeline in women’s healthcare. The deal will be valued at up to $875 million.
Through the agreement, Bayer will provide an upfront payment of $425 million with potential milestone payments of up to $450 million and potential triple digit million sales milestone payments, a KaNDy press release said.
The acquisition will give Bayer access to KaNDy’s once-daily, oral neurokinin-1,3 receptor antagonist, NT-814, for the treatment of the vasomotor symptoms of menopause, the press release said. The oral treatment is set to start Phase III clinical trials in 2021.
“Bayer is focusing on innovative options to address the unmet medical needs of women worldwide,” said Stefan Oelrich, member of the Board of Management of Bayer and president, Pharmaceuticals, in the press release. “With this acquisition Bayer will broaden its women’s healthcare pipeline by adding a potential novel non-hormonal oral treatment option for women during menopause.”
“Bayer has been our preferred partner due to its leading position in the area of women’s healthcare,” said Dr. Mary Kerr, co-founder and CEO of KaNDy Therapeutics, in the press release. “We believe that under the ownership of Bayer, this potential novel medicine can be optimally developed to become an important non-hormonal treatment option for women suffering debilitating symptoms of the menopause.”
Source: KaNDy
