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news.German pharmaceutical firm Bayer has agreed to acquire Vividion Therapeutic to strengthen its drug discovery capabilities.
Bayer headquarters in Leverkusen, Germany. Credit: Atamari/ wikipedia.
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German pharmaceutical firm Bayer has agreed to acquire Vividion Therapeutic to strengthen its drug discovery capabilities.
Vividion Therapeutics uses novel discovery technologies to develop therapies for patients with critical unmet needs across multiple therapeutic areas.
Its platform has the capability to produce a range of small molecule therapies, with initial focus on targets for oncology and immunology.
The company’s chemoproteomic screening platform identifies previously unknown binding pockets in undruggable protein targets to produce novel compounds that provide a wide therapeutic window for a variety of areas of high-unmet medical need.
Bayer stated that the deal will help to strengthen its small molecule capabilities and expands the company’s reach into new modalities.
Under the agreement, Vividion Therapeutic will receive $1.5bn of upfront consideration and up to $500m of milestone payments.
Bayer pharmaceuticals division president and Bayer management board member Stefan Oelrich said: “This acquisition is a cornerstone of our strategy to fuel our pipeline with breakthrough innovation.
“Vividion’s technology is the most advanced in the industry, and it has demonstrated its ability to identify drug candidates that can target challenging proteins.
“Together with Bayer’s existing know-how, we will be able to develop first-in-class drug candidates, increasing the value of our pipeline. We want to provide innovative therapies for patients whose medical needs are not yet met by today’s treatment options.”
Subject to customary closing conditions that include required regulatory approvals, the transaction is expected to be concluded in the third quarter of this year.
Upon completion of the deal, Bayer will have complete rights to Vividion’s discovery platform that include three integrated, synergistic components.
These components include an integrated data portal, a proprietary chemistry library as well as a novel chemoproteomic screening technology.
