Bayer Buys Two Biotech Firms to Beef Up Radiopharmaceuticals

  • Bayer AG BAYRY will acquire two small biotech companies in a deal that adds an experimental prostate cancer medicine to the German drugmaker's pipeline.
  • Bayer will pay an undisclosed sum for Noria Therapeutics and PSMA Therapeutics, built around radiotherapy research from the Weill Cornell Medical College in NYC.
  • The deal is centered around an actinium-225 labeled prostate-specific membrane antigen (PSMA) small molecule currently in pre-IND studies for prostate cancer.
  • Bayer has its portfolio of targeted alpha therapies, which includes Xofigo, a radium-based therapy approved to treat metastatic castration-resistant prostate cancer with symptomatic bone metastases and no known visceral metastases, as well as an investigational conjugate platform based around thorium-227.
  • Price Action: BAYRY shares are down 0.78% at $15.89 during the market session on the last check Thursday.
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Posted In: BiotechM&ANewsHealth CareGeneralBriefsprostate cancer
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