Bayer To Acquire Vividion Therapeutics in $2-Bn DealBy
Bayer has agreed to acquire Vividion Therapeutics, a San Diego, California-based bio/pharmaceutical company focused on cancers and immune disorders, in a deal worth up to $2 billion ($1.5 billion upfront and up to $500 million in milestone payments).
Vividion’s lead programs include multiple oncology and immunology targets, with ongoing efforts on a transcription factor NRF2 antagonist for the potential treatment of NRF2 mutant cancers, as well as NRF2 activators for various inflammatory diseases, such as irritable bowel disease. Vividion’s proprietary chemoproteomic drug-discovery platform is used to identify selective small-molecule therapeutics targeting traditionally undruggable targets in oncology and immunology.
Under the agreement, Bayer will pay an upfront consideration of $1.5 billion and potential success-based milestone payments of up to $500 million. Closing of the transaction is expected to take place in the third quarter of 2021.
Following closing of the acquisition, Bayer will own full rights to Vividion’s discovery platform, which comprises three components: (1) chemoproteomic screening technology; (2) an integrated data portal; and (3) a chemistry library.
Source: Bayer and Vividion Therapeutics