Sector News

Bayer acquires UK biotech company

August 11, 2020
Energy & 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

comments closed

Related News

June 8, 2024

Borealis equips Belgium site with demonstration compounding line for recyclate-based polyolefins

Energy & Chemical Value Chain

Borealis has installed a semi-commercial demonstration compounding line for recyclate-based polyolefins (rPO) at its site in Beringen, Belgium. It is set for construction this year and is expected to be fully operational in the first half of 2025.

June 8, 2024

Christine Grosse Lembeck to lead BASF’s Battery Recycling business

Energy & Chemical Value Chain

Christine Grosse Lembeck has been appointed to lead BASF’s global Battery Recycling business. In her new role, she will be in charge to further grow BASF’s comprehensive solutions along the battery recycling value chain for battery producers, battery cell manufacturers and OEMs. The business is an integral part of BASF Battery Materials.

June 8, 2024

Carbios equips L’Occitane en Provence with enzymatically recycled shower oil bottle

Energy & Chemical Value Chain

L’Occitane en Provence’s Amande shower oil has been outfitted with a bottle based on transparent PET made entirely from enzymatic recycling. The launch comes in collaboration with enzymatic recycler Carbios and packaging provider Pinard Beauty Pack, aligning with the industry’s transition to a circular plastic economy.

How can we help you?

We're easy to reach