Bayer, a global leader in women’s healthcare, today announced that, further to its press release on August 11, 2020, Bayer completed the acquisition of UK-based biotech company KaNDy Therapeutics Ltd. to expand its drug development pipeline in women’s healthcare.
“We are pleased to receive antitrust clearance and to officially close on the KaNDY Therapeutics Ltd. acquisition,” said Dr. Sebastian Guth, Bayer’s President of Pharmaceuticals, Americas Region. “This acquisition is another testament to our commitment to the health of women which not only broadens our pipeline, but has the potential, if approved, to deliver a new treatment option that could have a meaningful impact on women’s lives.”
As previously announced, under the terms of the agreement Bayer pays an upfront consideration of $425 million, potential milestone payments of up to $450 million until launch followed by potential additional triple digit million sales milestone payments.
The Pharmaceuticals Business Development & Licensing team of Bayer facilitated this transaction.
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Morgan Stanley was serving as financial advisor to Bayer, while Linklaters was serving as legal counsel. Goldman Sachs International was serving as financial advisor to KaNDy Therapeutics Ltd., while Goodwin was serving as legal counsel.
Source: Biospace
