The Challenge
In early 2020, Bayer embarked on a strategic portfolio review that resulted in a desire to sell several of its assets, including a priority review voucher it had been awarded. Bayer wanted to find a buyer for the PRV that was not one of its competitors and run a discreet and efficient process. It contacted KYBORA to help with the process.
The Solution
KYBORA quickly helped identify a group of potential buyers that were not competitors, had a potential need for a PRV, and the cash-on-hand to pay for the PRV. Among them, KYBORA convinced argenx to make an initial offer, received two additional offers, negotiated a higher price with argenx, and helped close the transaction. This entire process was completed in a record six weeks.
The Outcome
Bayer maximized the value of an asset for which it did not have an immediate use for and argenx will use the PRV to accelerate the registration of its lead product Efgartigimod in a future filing.
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