Sector News

Bayer acquires UK biotech company

August 11, 2020
Chemical Value Chain

Bayer says that it will acquire KaNDy Therapeutics (Stevenage, UK), a clinical-stage biotechnology company, to expand Bayer’s drug-development pipeline in women’s healthcare.

Bayer will pay an upfront consideration of $425 million and potential milestone payments of up to $450 million until launch followed by potential additional triple-digit-million sales milestone payments, under the terms of the agreement, the company says. Completion of the deal is subject to customary conditions, in particular antitrust approval, and is expected by next month, Bayer says.

The transaction is another step in augmenting Bayer’s own women’s healthcare portfolio through collaborations and agreements, it says. “Bayer is focusing on innovative options to address the unmet medical needs of women worldwide,” says Stefan Oelrich, board member and president/pharmaceuticals at Bayer. “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’s pharmaceuticals business’s development and licensing team facilitated the transaction, it says. Morgan Stanley is serving as financial advisor to Bayer, with Linklaters serving as legal counsel, the company says. Goldman Sachs International is serving as financial advisor to KaNDy Therapeutics and Goodwin is serving as legal counsel.

By: Sotirios Frantzanas

Source: Chemical Week

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 22, 2020

JM and Dow’s joint technology wins Best Process award at ICIS Innovation Awards

Chemical Value Chain

Johnson Matthey (JM) and Dow Global Technologies (Dow) are winners of the Best Process award for this year’s ICIS Innovation Awards for our joint LP OXOSM process to produce Isononyl Alcohol (INA).

November 22, 2020

What do EU citizens think about nanomaterials?

Chemical Value Chain

Survey shows that citizens demand better labelling of everyday products containing nanomaterials and increased awareness of the risks and benefits of products containing nanomaterials.

November 22, 2020

New green materials could power smart devices using ambient light

Chemical Value Chain

Researchers have developed environmentally friendly materials that could harvest enough energy from indoor light to power wireless smart devices.

Send this to a friend