Bayer has announced a new partnership with U.S. biotech company Cytokinetics to acquire rights for an experimental heart drug in Japan. This collaboration aims to strengthen Bayer’s position in the cardiovascular market through strategic, smaller deals.
Under the agreement, Cytokinetics will receive an upfront payment of 50 million euros, equivalent to about $53 million.
Additionally, they could earn up to 90 million euros based on specific development milestones. Furthermore, Cytokinetics stands to gain as much as 490 million euros from Bayer, contingent upon achieving certain sales targets.
The deal focuses on the drug candidate aficamten, which is intended for treating hypertrophic cardiomyopathy (HCM). HCM is a genetic condition that affects the heart’s ability to pump blood effectively.
Bayer, a diversified German company, is currently facing challenges such as high debt levels, weak agricultural markets, and costly legal issues. These pressures have led investors to call for improvements in Bayer’s drug development pipeline. Earlier this year, in March, Bayer secured European commercialization rights for another heart medication, acoramidis, for a potential total of $310 million.
This collaboration with Cytokinetics marks a significant step for Bayer as it seeks to enhance its portfolio in the cardiovascular sector while navigating its financial challenges.
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