Wednesday, November 03, 2010

Biocompatibles May Be Discussing Possible Offer With Bayer, Analysts Say - Bloomberg

Biocompatibles International Plc, a U.K. developer of cancer treatments, may be a target for Bayer AG as the German company looks to expand in cancer, analysts from Finncap and Edison Investment Research Ltd. said.

Biocompatibles makes gel beads loaded with cancer drugs that deliver medicine in a more controlled manner to tumors. The Farnham, England-based company also produces devices to deliver drugs to treat prostate tumors. Biocompatibles has a partnership with Bayer to develop a treatment for liver cancer, a combination of the drug-eluting beads and Bayer’s Nexavar.

Biocompatibles said Oct. 28 that it was in “advanced talks” with an unidentified potential bidder. Bayer is seeking to expand its drug unit and would be able to finance a deal as big as the 17 billion-euro ($23.8 billion) takeover of Schering AG, said Chief Executive Officer Marijn Dekkers, at a Sept. 28 press dinner. The Leverkusen, Germany-based company is looking to buy drug assets in cardiology, oncology and women’s health.

“It might be Bayer,” Keith Redpath, a Finncap analyst, said in a phone interview. “They’ve got this deal with beads with Biocompatibles -- that is actually in some serious clinical trials now -- which is an adjunct to Nexavar.”

Posted via email from Jack's posterous

No comments: