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Bayer acquires rights to Cytokinetics' heart drug in Japan
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Bayer acquires rights to Cytokinetics' heart drug in Japan
Nov 19, 2024 8:32 PM

FRANKFURT, Nov 19 (Reuters) - Bayer on

Tuesday struck a collaboration deal with U.S. biotech firm

Cytokinetics ( CYTK ) to acquire certain rights in Japan to an

experimental heart drug, as the German group strengthens its

cardiovascular business with smaller deals.

Cytokinetics ( CYTK ) will receive 50 million euros ($53 million)

upfront, plus up to 90 million euros contingent on certain

development achievements, Bayer said in a statement.

Cytokinetics ( CYTK ) also stands to receive up to 490 million euros

from Bayer, depending on certain sales milestones.

The deal covers certain uses of drug candidate aficamten in

hypertrophic cardiomyopathy, an inherited condition that limits

the heart's pumping function.

German diversified group Bayer, which is burdened by debt,

weak agriculture markets and costly litigation, has faced

investor calls to boost its drug development pipeline.

In March, Bayer acquired European commercialization rights

for heart drug acoramidis for up to $310 million from a group of

companies.

($1 = 0.9448 euros)

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