Noria Therapeutics and PSMA Therapeutics have both been acquired by Bayer, which will integrate their respective assets into its own oncology portfolio.

Noria Therapeutics and its subsidiary PSMA Therapeutics, US-based cancer treatment developers based on research at Cornell Weill Medicine and Johns Hopkins University, have agreed to an acquisition by pharmaceutical company Bayer.

Financial terms have not been disclosed. Bayer will integrate both companies’ assets into its own oncology portfolio, specifically with a view of strengthening its position in prostate cancer treatments.

Lisa Placanica, senior managing director, Center for Technology Licensing, at Weill Cornell Medicine, said: “Weill Cornell Medicine is committed to bringing our faculty’s innovations to market so that patients can benefit from the latest therapeutics.

“Bayer’s acquisition of Noria and PSMA Therapeutics which have nurtured [founder John] Babich’s radiopharmaceutical and diagnostic technology, is an important milestone in drug development, and we look forward to the advances this collaboration can make to enhance prostate cancer therapies.”

Neither Noria nor PSMA appear to have raised equity financing.