Bayer AG will acquire U.K.-based biotech company KaNDy Therapeutics Ltd. in order to expand its women’s health-care pipeline with a potential new medicine, both companies said Tuesday.
“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,” it said.
The phase 3 clinical trial should start in 2021 and, once the medicine is approved, it could generate peak sales potential of more than 1 billion euros ($1.17 billion) globally, they said.
Under the deal, the German pharmaceutical and chemical conglomerate will pay an upfront consideration of $425 million and a potential additional consideration in the form of milestone payments, the companies said.
The deal includes “potential milestone payments of up to $450 million until launch followed by potential additional triple-digit million sales milestone payments,” they said.
The deal is expected to close by September 2020, once approved by antitrust authorities in particular, they said.
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