鲍碍听BioTech听KaNDy听Therapeutics has been snapped up by German-headquartered pharmaceutical giant Bayer.听
The acquisition of the South East firm, which is for an initial consideration of 拢325 million,听is听set to boost听Bayer鈥檚听drug development pipeline in women鈥檚 healthcare.听
KaNDy听is targeting treatments for the menopause with a phase III clinical trial set for 2021.听Once approved,听its听compound could generate peak sales potential of more than听鈧�1 billion globally.听
Under the deal, Bayer may also make additional milestone payments of up to听拢345m听until launch followed by potential additional triple–digit–million sales milestone payments.听听
Dr.听Mary Kerr, co-founder and CEO of听KaNDy听Therapeutics, said:听鈥淏ayer has been our preferred partner due to its leading position in the area of women鈥檚 healthcare.听
鈥淲e believe that under the ownership of Bayer, this potential novel medicine can be optimally developed to become an important non-hormonal treatment option for women suffering debilitating symptoms of the menopause.鈥�听
Stefan Oelrich, Member of the Board of Management of Bayer and President Pharmaceuticals,听added:听鈥淏ayer is focusing on innovative options to address the unmet medical needs of women worldwide.听听
鈥淲ith this acquisition Bayer will broaden its women鈥檚 healthcare pipeline by adding a potential novel non-hormonal oral treatment option for women during menopause.鈥�听