Bayer to Acquire BlueRock Therapeutics
August 08 2019 - 07:44AM
Dow Jones News
By Cristina Roca
Bayer AG (BAYN.XE) has agreed to buy the shares in BlueRock
Therapeutics it didn't already own, valuing the company at up to $1
billion, it said Thursday.
Bayer, which already held 40.8% in BlueRock, will buy the
remaining shares in the biotechnology company for about $240
million in cash and an additional $360 million in milestone
payments. It expects the deal to close during the third quarter of
2019.
The German chemical and pharmaceutical giant established
BlueRock, which develops engineered cell therapies in the fields of
neurology, cardiology and immunology, through a venture with
Versant Venture Management LLC (VV.XX) in 2016.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
August 08, 2019 07:29 ET (11:29 GMT)
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