Bayer to Acquire KaNDy Therapeutics for $425M Upfront

Bayer will acquire KaNDy Therapeutics Ltd. for $425 upfront and potential milestone payments of up to $450 million, expanding its drug development pipeline in women’s healthcare. KaNDy Therapeutics recently completed the Phase IIb trial of NT-814, a first in class, non-hormonal, oral neurokinin-1,3 receptor antagonist for the treatment of frequent symptoms of menopause, hot flashes and night sweats. The Phase III trial is expected to begin in 2021. Closing is subject to customary conditions and is expected by September 2020.

“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.”

“Bayer has been our preferred partner due to its leading position in the area of women’s healthcare”, said Dr. Mary Kerr, Co-Founder and CEO of KaNDy Therapeutics Ltd. “We believe that under the ownership of Bayer, this potential groundbreaking medicine can be optimally developed to become an important non-hormonal treatment option for women suffering debilitating symptoms of the menopause.”

The acquisition augments Bayer’s women’s healthcare portfolio through strategic collaborations and agreements. Earlier in 2020, Bayer expanded 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 women. Bayer’s exclusive license agreement with Daré Bioscience for the U.S. market, signed in January 2020, is focused on its investigational, hormone-free, monthly vaginal contraceptive currently in clinical development for the prevention of pregnancy.