Bayer has completed the acquisition of Vividion, which uses its proprietary platform to address conventionally undruggable targets in the areas of immunology and oncology. The deal, which is worth approximately US$2 B, aligns with Bayer’s deal making strategy to strengthen its pharmaceutical division. Interestingly, the Bayer deal comes a little over a month after Vividion filed to raise US$100 M in an IPO. Bayer’s tradition of allowing the companies it has invested in or acquired to operate in an independent way was one key inducement for Vividion to choose the buyout in preference over an IPO.