BERLIN German pharmaceutical giant Bayer said it had struck a deal valued at up to $1.3 billion (1.1 billion euros) with a U.S.-based biotech company to develop its prospective cancer drug . Under the agreement, Kumquat Biosciences is responsible for initiating and completing a study into the medicine, while Bayer will complete development and commercial activities. Kumquat will receive up to $1.3 billion and additional royalties on net sales, Bayer said. The drug candidate is aimed at treating