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Bayer Updates

HEALTHCARE
Bayer & Aignostics announcing a strategic multi-year research collaboration on AI powered approaches to oncology drug R&D.

  • Not much details around financials; "Aignostics will receive an upfront payment and is eligible to receive success-based milestone payments and royalties on any commercialized therapies that result from the collaboration."
  • In Roundup news bbg reporting Bayer consulting lawyers on potential to use Texas Two-Step approach to settle remaining ~50k cases (of total 167k) - i.e. split company and leave lawsuits in one holdco that goes into bankruptcy - e.g's include BestWall & DBMP (both on asbestos cases) but courts have rejected recent attempts from 3M & Johnson & Johnson.
  • Bruce Markell, Northwester Professor in Law on bbg this morning; "Given the recent rulings on Texas Two-Step bankruptcies, I’m pretty sure Bayer knows this is a long-shot bid for a settlement....But they may feel like they don’t have any other choice."
  • Cash lines unch today.
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