LEVERKUSEN (dpa-AFX) - Bayer (BAYZF.PK, BAYRY.PK, BYR.L) has agreed to acquire KaNDy Therapeutics Ltd., a UK-based private clinical-stage biotech that was founded in 2017 as a spin-off from NeRRe Therapeutics Ltd. KaNDy recently published the Phase IIb dose range finding study results for an investigational compound, NT-814, a potential first in class, orally administered once-daily, neurokinin-1,3 receptor antagonist which showed positive findings for the treatment of moderate to severe vasomotor symptoms due to menopause.
Bayer will pay an upfront consideration of $425 million, potential milestone payments of up to $450 million until launch followed by potential additional triple digit million sales milestone payments.
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