Further expansion of Bayer’s drug development pipeline in Women’s Healthcare
Upfront consideration of USD 425 million and additional potential consideration in the form of milestone payments
Bayer, a global leader in women’s healthcare, and KaNDy Therapeutics Ltd, a UK clinical-stage biotech company, today announce that Bayer will acquire KaNDy Therapeutics Ltd. to expand its drug development pipeline in women’s healthcare.
Under the terms of the agreement Bayer will pay 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. Closing is subject to customary conditions, in particular anti-trust approval, and is expected by September 2020.
The acquisition of KaNDy Therapeutics Ltd. is another important milestone in augmenting Bayer’s own women’s healthcare portfolio through strategic collaborations and agreements.
Morgan Stanley is serving as financial advisor to Bayer, while Linklaters is serving as legal counsel. Goldman Sachs International is serving as financial advisor to KaNDy Therapeutics Ltd., while Goodwin is serving as legal counsel.
Bayer Contact:
Phone +44 (0)118 206-3977
Email: communications.ukireland@bayer.com
KaNDy Therapeutics Ltd. Contact:
Phone +44 (0)7885 715 857
Email: kandyTherapeutics@consilium-comms.com