Bayer inks another $1billion-plus in-licensing deal

Within a matter of a week, German pharma major Bayer (BAYN: DE) has signed another more than $1 billion licensing deal, adding to the up to $1.55 billion agreement with the USA’s Loxo Oncology.

Bayer has entered into a multi-target discovery collaboration with PeptiDream (TYO: 4587), a public Kanagawa, Japan-based biopharmaceutical company, whose share shot up 3.27% to 3,635 yen on the news.

Under the agreement, PeptiDream will use its proprietary Peptide Discovery Platform System (PDPS) technology to identify macrocyclic/constrained peptides against multiple targets of interest selected by Bayer, and to optimize hit peptides into therapeutic peptides or small molecule products.