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
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