Bayer
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.21 | 15 |
| womensHealth | ×1.50 | 3 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| approved | ×1.50 | 7 |
| phase 2 | ×1.19 | 5 |
| phase 1 | ×1.50 | 3 |
| phase 3 | ×1.30 | 3 |
Strategy profile
Based on 15 disclosed transactions, Bayer concentrates its licensing activity in Cardiovascular, Metabolic, and Oncology. Bayer pays a 1.34x premium over market median, with the strongest premiums in WomensHealth (1.50x). Their most common deal structure is License, with an average disclosed value of $773M. Most recent activity: 2026.
Premium by therapeutic area
How Bayer pays relative to peer medians in each TA
Pipeline coverage & gaps
Bayer has disclosed activity in 2 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| LicensePrimary | 8 | $80M | $611M |
| Acquisition | 2 | $172M | $1.5B |
| Collaboration | 2 | $53M | $981M |
| Option | 2 | $39M | $433M |
| Other | 1 | — | — |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | eye implant for glaucoma/diabetic retinopathy | Perfuse Therapeutics | glaucoma and diabetic retinopathy | preclinical | $300M | $2.5B |
| 2025 | KRAS G12D inhibitor | Kumquat Biosciences | KRAS G12D-mutant cancers | phase_1 | — | $1.3B |
| 2025 | Ovaprene | Daré Bioscience | contraception | phase_3 | — | $330M |
| 2025 | TIM-3-001 | Y-mAbs Therapeutics | SCLC | discovery | $43M | $647M |
| 2024 | Aficamten (Japan) | Cytokinetics | hypertrophic cardiomyopathy | phase_3 | $53M | $662M |
| 2024 | Aficamten (Japan) | Cytokinetics | Hypertrophic cardiomyopathy (HCM) | phase_3 | $53M | $665M |
| 2024 | Aficamten | Cytokinetics | hypertrophic cardiomyopathy | phase_3 | $53M | $662M |
| 2024 | aficamten | Cytokinetics | hypertrophic cardiomyopathy | phase_3 | $52M | $655M |
| 2024 | Heart-disease program (condensate-modulating technology) | Dewpoint Therapeutics | heart disease / cardiomyopathy | discovery | — | $424M |
| 2024 | Elinzanetant | Bayer | Menopausal vasomotor symptoms, insomnia | phase_3 | — | — |
| 2024 | Aficamten | Cytokinetics | hypertrophic cardiomyopathy | phase_3 | $53M | $680M |
| 2024 | Anti-B7-H3-201 | Immunogen | Breast (HR+) | discovery | $39M | $536M |
| 2024 | Acoramidis (AG10; Beyonttra) | BridgeBio Pharma | ATTR amyloidosis | phase_3 | $135M | $735M |
| 2024 | acoramidis | BridgeBio Pharma | transthyretin amyloid cardiomyopathy | phase_3 | — | $310M |
| 2024 | Acoramidis (AG10 / Beyonttra) | BridgeBio Pharma | ATTR amyloidosis | phase_3 | $135M | $760M |
How this is computed
For each Bayer deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 20 disclosed deal premiums vs. peer medians. Raw premium 1.344, clamped to [0.7, 1.5].