Bayer To Acquire KaNDy Therapeutics in $875-M DealBy
Bayer has agreed to acquire KaNDy Therapeutics, a Stevenage, UK-based clinical-stage biopharmaceutical company, to expand its drug-development pipeline in women’s healthcare, in a deal worth up to $875 million.
KaNDy Therapeutics recently completed a Phase IIb trial of NT-814, an oral, non-hormonal, once-daily drug for treating symptoms menopause, hot flashes and night sweats. The start of Phase III clinical trial is expected for 2021. Once approved, KaNDy says the drug could generate peak sales potential of more than EUR 1 billion ($1.2 billion) globally.
Under the agreement, Bayer will pay an upfront consideration of $425 million, potential milestone payments of up to $450 million until launch, and potential additional triple-digit million sales milestone payments. Closing is subject to customary conditions, including antitrust approval and is expected by September 2020.
This a second recent deal by Bayer to augment its women’s healthcare portfolio through strategic collaborations and agreements. Earlier this year (2020), Bayer announced the expansion of its partnership with Evotec, a Hamburg, Germany-based drug-discovery and development company, with a new five-year, multi-target collaboration to develop multiple clinical candidates for treating polycystic ovary syndrome, an endocrine disorder in women. In January (January 2020), Bayer signed an exclusive license agreement for the US market with Daré Bioscience, a San Diego, California-based biopharmaceutical company, focused on Daré’s vaginal contraceptive currently in clinical development.
Source: KaNDy Therapeutics