Sector News

Bayer to buy novel drug discovery company for US$2bn

August 13, 2021
Life sciences

Bayer is acquiring biopharmaceutical company Vividion Therapeutics, which uses novel discovery technologies to unlock high value, traditionally “undruggable” targets with precision therapeutics.

According to Jeff Hatfield, CEO of US-based Vividion, about 90% of disease-causing proteins cannot be targeted by current therapies due to the lack of a known addressable binding site.

He said: “Our proprietary chemoproteomic platform technology addresses the key limitations of conventional screening techniques and allows us to discover previously unknown, or cryptic, functional pockets on the surface of proteins and identify small molecules that selectively bind to those targets.”

Vividion’s proprietary platform can produce a variety of small molecule therapies, yielding highly potent and selective compounds that can address areas of high-unmet medical need. The technology has already proven its applicability pre-clinically in oncology and immune-related disease and could potentially expand into additional indications.

The acquisition will see Bayer gain full rights to Vividion’s discovery platform, which comprises three integrated, synergistic components: a novel chemoproteomic screening technology, an integrated data portal, and a proprietary chemistry library.

However, Vividion will continue to operate as an independent organisation, on an arms-length basis. It will remain accountable for advancing its technology and portfolio while benefiting from Bayer’s experience, infrastructure, and reach as a global pharmaceutical company.

Life science company Bayer expects the acquisition will strengthen its small molecule capabilities and expand its reach into new modalities.

Bayer will pay US$1.5bn upfront, and up to US$500m more in success-based milestone payments.

The transaction is expected to close in Q3 2021.

Stefan Oelrich, President of Bayer’s Pharmaceutical Division, commented: “Vividion’s technology is the most advanced in the industry, and it has demonstrated its ability to identify drug candidates that can target challenging proteins. Together with Bayer’s existing know-how, we will be able to develop first-in-class drug candidates, increasing the value of our pipeline. We want to provide innovative therapies for patients whose medical needs are not yet met by today’s treatment options.”

by Amanda Jasi

Source: thechemicalengineer.com

 

comments closed

Related News

January 23, 2022

UCB to acquire Zogenix

Life sciences

UCB (Euronext: UCB) and Zogenix (NASDAQ: ZGNX) announced that the companies have entered into a definitive agreement under which UCB would acquire Zogenix, Inc., a global biopharmaceutical company commercializing and developing therapies for rare diseases.

January 23, 2022

argenx announces VYVGART™ approval in Japan for the treatment of generalized myasthenia gravis

Life sciences

argenx SE, a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases, announced that Japan’s Ministry of Health, Labour and Welfare (MHLW) has approved VYVGART™ (efgartigimod alfa) intravenous infusion for the treatment of adult patients with generalized myasthenia gravis (gMG) who do not have sufficient response to steroids or non-steroidal immunosuppressive therapies (ISTs).

January 23, 2022

GlaxoSmithKline rejects Unilever’s $68B consumer health buyout offer, but a bigger bid is brewing

Life sciences

GSK has rejected three offers from Unilever to buy GSK’s consumer health unit, the company said Saturday. The latest offer from the fellow U.K. consumer goods giant, received Dec. 20 for a total value of 50 billion pounds ($68 billion), “fundamentally undervalued” the business and its prospects, GSK said.

Send this to a friend