Bayer Buys KaNDy Therapeutics for $425 Million Up Front
Post-menopausal women with debilitating symptoms that don't respond to decades-old hormonal therapies could finally see some new treatment options. The chemicals and pharmaceuticals conglomerate Bayer (OTC: BAYRY) will acquire KaNDy Therapeutics, a privately held biotechnology company developing a first-in-class, nonhormonal treatment for this large underserved population.
On Tuesday, Bayer agreed to pay $425 million for KaNDy Therapeutics to access NT-814, an oral treatment shown to reduce the frequency of hot flashes, night sweats, and related vasomotor symptoms. The large up-front sum will be followed by up to $450 million in milestone payments if Bayer can launch NT-184. If approved and successfully launched, KaNDy will receive sales-related milestone payments that could reach nine digits.
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Source Fool.com