Bayer Buys KaNDy Therapeutics for $425 Million Up Front

Post-menopausal women with debilitating symptoms that don't respond to decades-old hormonal therapies could finally see some new treatment options. The chemicals and pharmaceuticals conglomerate Bayer (OTC: BAYRY) will acquire KaNDy Therapeutics, a privately held biotechnology company developing a first-in-class, nonhormonal treatment for this large underserved population. On Tuesday, Bayer agreed to pay $425 million for KaNDy Therapeutics to access NT-814, an oral treatment shown to reduce the frequency of hot flashes, night sweats, and related vasomotor symptoms.