Attracted by Bayer AG's 'arm's length' approach to acquiring biotechs and allowing them to preserve their entrepreneurial biotech culture, Vividion Therapeutics, Inc. of the US has abandoned plans for an eagerly-anticipated initial public offering at the last minute to team up with the German group.
The Inside Story On How Bayer Swooped On NASDAQ-Bound Vividion
Paying $1.5bn Upfront To Buy Chemoproteomics Specialist
It has taken just seven weeks from a cold call to completion and the German major has got its hands on a prized asset in Vividion which was on the verge of listing on the NASDAQ. The companies told Scrip how the deal was done.
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