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)