Bayer acquires cell therapy firm BlueRock for $600M

Thursday, 08. August 2019 14:29

Pharmaceutical giant Bayer AG announced on Thursday that it has allocated $600 million in order to acquire 100% stake in the BlueRock Therapeutics, a privately-held biotechnology company focused on developing engineered cell therapies. Prior to the agreement, Bayer held a 40.8% share in the company. The closing of the transaction is expected during the third quarter of 2019.

BlueRock Therapeutics’ is currently working on cell therapies for neurological, cardiological, and immunological disorders, with a lead program in Parkinson's disease expected to enter the clinic by the end of 2019. The company is working on the so-called induced pluripotent stem cell solutions and is the first firm working with that technology in which Bayer acquired more than a minority stake.

"In line with our strategy to ramp up our investments in technologies with breakthrough innovation potential, we have decided to build our cell therapy pipeline based on BlueRock Therapeutics’ industry-leading iPSC platform," member of the Bayer's Board of Management and President of Pharmaceuticals Division Stefan Oelrich said.

Related Links: Bayer AG
Breaking the News / MA