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
The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.
The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.
Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.
