Bayer, the pharmaceutical giant with a major U.S. presence in Whippany, has agreed to acquire two companies in order to expand its pipeline for the treatment of prostate cancer.
The company said Thursday in a news release that it will acquire Noria Therapeutics Inc. and PSMA Therapeutics Inc., obtaining the exclusive rights to a compound and an antigen targeting prostate cancer.
“Bayer is focused on addressing the various medical needs of cancer patients, providing treatments that have the potential to improve patient outcomes throughout the different stages of the disease,” Robert LaCaze, member of the Executive Committee of the Pharmaceuticals Division and head of the Oncology Strategy Business Unit at Bayer, said in a prepared statement. “This acquisition is another important milestone in enhancing Bayer’s oncology portfolio through both in-house expertise and strategic collaborations and agreements.”
Financial terms of the transaction were not disclosed.