Bayer acquires gene therapy company for $4B

Bayer bought gene treatment company Asklepios BioPharmaceutical, typically referred to as AskBio, Oct. 26 in an offer totaling $4 billion.

” In line with our purpose science for a much better life, we are devoted to bringing substantial enhancements for clients through innovation,” Bayer CEO Werner Baumann, stated in a press release. “With this acquisition, Bayer considerably advances the facility of a cell and gene treatment platform that can be at the forefront of breakthrough science, contributing to preventing or perhaps treating diseases triggered by gene flaws and more driving business growth in the future.”.

Under the deal, Bayer will own full rights to AskBios gene therapy platform, which focuses on adeno-associated viruses. Bayer will likewise own AskBios existing gene therapy production platform and take over its different products in scientific screening to treat metabolic, cardiovascular, neuromuscular and main nervous system conditions.

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Katie Adams –
Monday, October 26th, 2020
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Bayer will pay $2 billion to AskBio upfront, as well as an extra $2 billion in success-based turning point payments.