San Diego – August 5, 2021 – Cooley advised Vividion Therapeutics, a biopharmaceutical company utilizing novel discovery technologies to unlock high-value, traditionally undruggable targets with precision therapeutics, on its agreement to sell to Bayer AG for a purchase price of $1.5 billion and up to $500 million in success-based milestone payments. Partners Barbara Borden and Karen Deschaine led the Cooley team advising Vividion.
After the closing of the acquisition, Bayer will own full rights to Vividion’s proprietary discovery platform, which includes three integrated, synergistic components: a novel chemoproteomic screening technology, an integrated data portal and a proprietary chemistry library. The acquisition of Vividion strengthens Bayer’s small molecule capabilities and expands Bayer’s reach into new modalities.
“Our proprietary chemoproteomic platform technology addresses the key limitations of conventional screening techniques and allows us to discover previously unknown, or cryptic, functional pockets on the surface of proteins and identify small molecules that selectively bind to those targets,” Jeff Hatfield, Vividion’s chief executive officer, said in a news release. “When combined with Bayer’s expertise in the development of small molecules to market and patient, an unparalleled position comes into existence to unlock undruggable targets and generate first-in-class novel compounds for the benefit of patients.”
Vividion Therapeutics’ platform has enabled it to identify hundreds of previously unknown functional pockets on well-validated protein targets implicated in a range of diseases, while simultaneously identifying compounds from its proprietary covalent chemistry library that interact in a highly selective manner with those pockets. The company is leveraging its proprietary chemoproteomic platform to advance a diversified pipeline of highly selective small molecule therapeutics targeting high-value, traditionally undruggable targets in oncology and immunology.
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