German pharmaceutical manufacturer Bayer will pay about $ 900 million for the British biotechnology company specializing in the production of goods for women’s health. Pre-payment for KaNDy Therapeutics will amount to 425 million dollars, writes MedCity News.
The deal is aimed at further strengthening of the position of Bayer in the market for women’s health. It is expected that the deal will close next month after receiving approval of competition authorities.
In addition to the initial payment, Bayer agreed to pay milestone payments for the successful development of an experimental drug NT-814 is designed for the correction of vasomotor symptoms of menopause. NT-814 is a non-hormonal receptor antagonist neirokinina to 1.3, which should be taken once a day orally. Currently undergoing clinical studies phase III, their completion is scheduled for 2021. According to analysts, sales of the NT-814 can reach 1 billion euros (1.18 billion dollars).