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News & Trends - Pharmaceuticals

Bayer acquires UK-based biotech

Health Industry Hub | September 10, 2020 |

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.


News & Trends - Biotechnology

AusBiotech appoints new CEO: Former Sanofi corporate affairs and sustainability leader takes the helm

AusBiotech appoints new CEO: Former Sanofi corporate affairs and sustainability leader takes the helm

Health Industry Hub | April 23, 2024 |

Biotech News: AusBiotech, the nation’s leading industry body for the biotech sector, has named former leader at Sanofi, Rebekah Cassidy, […]

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News & Trends - MedTech & Diagnostics

Federal government invests in Siemens Healthineers scanner to 'reduce wait times' for cancer diagnosis

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Health Industry Hub | April 23, 2024 |

MedTech & Diagnostics News: The Albanese Government is investing $12 million through the 2024–25 Budget, to purchase and install a […]

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News & Trends - MedTech & Diagnostics

Cardiac device benefits face more cuts, while technical services remain secure in the short term

Cardiac device benefits face more cuts, while technical services remain secure in the short term

Health Industry Hub | April 23, 2024 |

MedTech & Diagnostics News: Starting from July 2024, Cardiac Implantable Electronic Devices (CIED) listed on the Prescribed List (PL) will […]

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News & Trends - Biotechnology

CSL's world-first gene therapy heads for MSAC assessment

CSL’s world-first gene therapy heads for MSAC evaluation

Health Industry Hub | April 23, 2024 |

Biotech News: CSL’s world-first gene therapy for haemophilia B is scheduled for consideration at the upcoming Medical Services Advisory Committee (MSAC) […]

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