Bayer to invest $ 300 million in the creation of new businesses

Bayer to invest $ 300 million in the creation of new businesses

21.12.2015 News

In his new project, the pharmaceutical giant Bayer wants to unite the genome editing technology crispr with their experience in trying to develop new drugs.

Bayer, in close cooperation with Crispr Therapeutics AG on the basis of new technologies will seek to establish modern medicines from hemophilia and heart disease of newborns.

In a joint venture with Crispr Therapeutics AG, Bayer will invest $ 300 million. Under the agreement, Bayer will also take a minority stake in Crispr for $ 35 million.

The step of Bayer  is an example of what it considers advantageous gene editing technology and seeks to cooperate with biotech startup Crispr Therapeutics AG.

Axel Bouchon, a spokesman for Bayer said that the technology Crispr-Cas9 has a great potential.

Nevertheless, the potential Crispr-Cas9 remains unproven, because some critics believe Bayer makes a risky investment .

The new joint venture of Bayer will be directed to a drug that will work focusing on specific defective cells in the body.

The joint venture will be formally established in London, but its base of operations is located in Cambridge, Massachusetts, next to the research laboratory Crispr Therapeutics. The  new company plans to hire 40 to 50 people over the next two years.

Acquisitions of companies in the pharmaceutical sector, according to experts, are very popular. This helps to establish and expand production, increase incomes, create jobs, raise competitiveness and quality of  offered products.

Source: www.wsj.com

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