Bayer acquires UK-based biotech

Pharma News: Bayer has now completed the acquisition of UK-based biotech company KaNDy Therapeutics to expand its drug development pipeline in women’s healthcare.

“We are pleased that with the antitrust clearance the closing of the acquisition has now been achieved,” said Stefan Oelrich, Member of the Board of Management of Bayer and President Pharmaceuticals. “With this accomplishment Bayer is now fully integrating KaNDy’s NT-814 compound into its women’s healthcare drug development pipeline and is looking forward to starting the phase III clinical development in 2021.”

As previously announced, under the terms of the agreement Bayer pays an upfront consideration of USD 425 million, potential milestone payments of up to USD 450 million until launch followed by potential additional triple digit million sales milestone payments.

KaNDy Therapeutics recently completed the Phase IIb with NT-814, a first in class, non-hormonal, once-daily, oral neurokinin-1,3 receptor antagonist, publishing positive data for the treatment of frequent symptoms of the menopause, hot flashes and night sweats (vasomotor symptoms). The start of Phase III clinical trial is expected for 2021. Once approved, the compound could generate peak sales potential of more than Euro 1 billion globally.