3/13/2014

Kythera Biopharmaceuticals regained the rights from Bayer Consumer Care to develop and market ATX-101, Kythera's late-stage drug candidate designed to reduce double chin, outside the U.S. and Canada. The deal entitles Bayer to $33 million in common stock, a $51 million promissory note payable until 2024 plus milestone fees. "Our decision to take an equity position in Kythera is a testament to our belief in the potential for ATX-101, and will allow us to participate in Kythera's future success," said Erica Mann, global president of Bayer's Consumer Care Division.

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