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Kandy is backed by internationally recognized life sciences investors such as Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners, OrbiMed, and Longitude Capital.
FREMONT, CA: German multinational pharmaceutical and life sciences company Bayer is set to acquire KaNDy Therapeutics Ltd., a U.K. based clinical-stage pharmaceutical company. As per the agreement, Bayer will pay USD 425 million upfront, with potential milestone payments of up to USD 450 million and a 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.
Kandy is backed by internationally recognized life sciences investors such as Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners, OrbiMed, and Longitude Capital. “KaNDy is another example of our hands-on approach to achieving our twin objectives – to provide strong returns to our investors while enabling the discovery and development of truly innovative medicines. We hope that NT-814 will fulfil the potential shown in the Phase IIb studies and provide a much-needed non-hormonal treatment for the alleviation of menopause symptoms,” said Kaasim Mahmood, General Partner at Advent Life Sciences.
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The acquisition augments Bayer’s own women’s healthcare portfolio through strategic collaborations and agreements. Earlier in 2020, the company announced the expansion of its partnership with Evotec with a new five-year, multi-target collaboration to develop multiple clinical candidates for the treatment of polycystic ovary syndrome (PCOS), the most frequent endocrine disorder in pre-menopausal women.
Bayer also signed an exclusive license agreement with Daré Bioscience for the U.S. market, focused on its investigational, hormone-free, monthly vaginal contraceptive currently in clinical development for the prevention of pregnancy, in January this year. “Bayer is focusing on innovative options to address the unmet medical needs of women worldwide,” said Stefan Oelrich, Member of the Board of Management of Bayer and President Pharmaceuticals. “With this acquisition Bayer will broaden its women’s healthcare pipeline by adding a potential novel non-hormonal oral treatment option for women during menopause.”
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