The German Pharmaceutical company Bayer has announced that it’s about to close a deal to acquire Noria Therapeutics and PSMA Therapeutics, two small bio-scientific companies built around radiotherapy research from Weill Cornell Medical College in New York City, to expand its radiopharmaceutical pipeline.
The deal, whose cost Bayer has not announced, centers on a small molecule of a prostate-specific antigen called actinium-225 (PSMA) currently in pre-IND studies for prostate cancer.
Bayer has its own line of targeted alpha therapies that include “Xofigo”, a radium-based treatment approved for the treatment of metastatic castration-resistant prostate cancer with asymptomatic bone metastases and no known visceral metastases, as well as an investigational coupling platform based on thorium-227.
Noria’s mastermind is John Babich, chair of the Division of Radiopharmaceutical Sciences in Radiology at Weill Cornell Medicine, who founded the biotechnology.
Bayer said the two companies have exclusive licensing rights to proprietary technology developed there as well as at Johns Hopkins University.
“Weill Cornell Medical College is committed to bringing our faculty innovations to market so patients can benefit from the latest treatments,” Lisa Placanica, senior managing director of the Center for Technology Licensing at Weill Cornell, said in a statement.
“Bayer’s acquisition of Noria and PSMA Therapeutics, who advance Dr. Babich’s radiopharmaceutical and diagnostic technology, is a significant milestone in drug development, and we look forward to the progress this collaboration can bring to advance prostate cancer therapies.”
“Bayer is focused on addressing the various medical needs of cancer patients, providing treatments that improve patient outcomes throughout the different stages of the disease,” said Robert LaCaze, Member of the Executive Committee of the Pharmaceuticals Division and Head of the Oncology Strategic Business Unit at Bayer. “This acquisition is another important milestone in enhancing Bayer’s oncology portfolio through both in-house expertise and strategic collaborations and agreements.”
Noria and PSMA will sound familiar to anyone who follows Novartis and its late-stage radioligand, 177 Lu-PSMA-617, which handles a lutetium-labeled therapeutic payload on prostate cancer cells.
The Swiss pharmaceutical company has key readings on this filter coming up at #ASCO21 this weekend with an abstract set to go live this afternoon.
About Prostate Cancer at Bayer
Bayer is committed to delivering science for a better life by advancing a portfolio of innovative treatments.
The company has the passion and determination to develop new medicines that help improve and extend the lives of people living with cancer. Prostate cancer is the second most commonly diagnosed cancer in men and a key area of focus for Bayer.
The company’s franchise includes two products on the market (Nubeqa™ and Xofigo™) and several compounds in development, including a novel approach of advancing targeted alpha therapies.
Bayer is focused on addressing the unique medical needs of prostate cancer patients, providing treatments that extend their lives throughout the different stages of the disease and allowing them to continue their everyday activities, so that they can live both longer and better lives.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population.
Bayer is committed to drive sustainable development and generate a positive impact with its businesses.
At the same time, the Group aims to increase its earning power and create value through innovation and growth.
The Bayer brand stands for trust, reliability, and quality throughout the world.
In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses before special items amounted to 4.9 billion euros.
About Noria / PSMA Therapeutics
Noria Therapeutics Inc. (Noria) is a research and development company managed by experienced radiopharmaceutical development leaders and focused on the development of novel targeted alpha therapeutics and theranostic agents.
PSMA Therapeutics Inc. is a subsidiary of Noria to advance the platform of prostate-specific membrane antigen (PSMA) targeting radiotherapeutics.
These companies have exclusive worldwide rights to technology licensed from Weill Cornell Medicine and Johns Hopkins University (Baltimore, MD, USA). Companies are headquartered in New York City, USA.