KaNDy Therapeutics→Bayer
Acquisition · Cash + milestone payments · announced Aug 11, 2020
Announced
Aug 11, 2020
Closed
Sep 9, 2020
Economics
Cash + milestone payments()
Pre-deal · pre-deal mark: 2020, year precision · rounding grid ±$100M · Bayer press release — KaNDy Therapeutics acquisition, 2020
$425M upfront; up to $450M in development milestones + triple-digit-million sales milestones
Target
KaNDy Therapeutics
Menopause · Clinical / therapeutic
HQ Stevenage, UK · Founded 2017
Clinical-stage biotech developing NT-814 (elinzanetant) for menopausal vasomotor symptoms
- Business Wire - Bayer acquisition announcement (August 11, 2020)
- Business Wire - Bayer completion announcement (September 9, 2020)
- Bayer.com media release
Acquirer
Bayer
Healthcare
HQ Leverkusen, Germany
Global pharma and life sciences company; leader in women's healthcare and contraception
Why this buyer
Curated copy from the verified dataset — not an 8-K LLM summary
Reinforced Bayer's women's healthcare pipeline with NT-814/elinzanetant, a non-hormonal Phase IIb compound for moderate-to-severe menopausal vasomotor symptoms
Evidence ladder
Secondary (press / IR)
Business Wire press release (August 11, 2020)
Tertiary (trade / analyst)
Bayer.com media (September 9, 2020)
Limitations
- Citations are press/IR only — two wires of the same announcement are not dual-source. Add a primary filing.
- $425M upfront; up to $450M in development milestones + triple-digit-million sales milestones
- Pre-deal valuation sourced from: Bayer press release — KaNDy Therapeutics acquisition, 2020. Pre-deal market-cap and funding citations do not corroborate the acquisition.
Valuation peers · Menopause
Same sector, same deal type, announced within ±3 years, disclosed value within 0.25×–4× of this transaction. Ranked by evidence class, then same acquirer.
| Target | Acquirer | Announced | Value | Why included |
|---|---|---|---|---|
| Ogeda SA | Astellas Pharma | Apr 3, 2017 | same evidence class |
Patient empowerment context
Patient empowerment baseline (HLTH 2022)
No curated mapping — KaNDy Therapeutics (Menopause). HLTH/Outcomes4Me 2022 baseline is Breast cancer care continuum (HLTH 2022). No curated mapping for this target in the verified crosswalk.
Research workspace (includes heuristic crosswalk) →Related verified workspaces
Lacuna is a curated public-source sample, not a census of women's-health M&A. Coverage varies by sector, geography, disclosure availability, and women's-health scope. Undisclosed transaction values are excluded from disclosed-value totals.
Curated verified dataset v9 · updated 2026-09-20 · 2 citations on this deal · Data compiled from public sources for educational visualization. Verify independently before any commercial use.