Bayer, a pharmaceutical and life sciences company, completed the acquisition of Vividion Therapeutics, a biopharmaceutical company, from Versant Ventures, a healthcare investment firm, for $2bn, consisting of $1.5bn in cash upfront and $500m in potential future milestone payments. "This acquisition is a cornerstone of our strategy to fuel our pipeline with breakthrough innovation. Vividion’s technology is the most advanced in the industry, and it has demonstrated its ability to identify drug candidates that can target challenging proteins. Together with Bayer’s existing know-how, we will be able to develop first-in-class drug candidates, increasing the value of our pipeline. We want to provide innovative therapies for patients whose medical needs are not yet met by today’s treatment options," Stefan Oelrich, Bayer Member of the Board of Management and President of the Pharmaceuticals Division.