By Pietro Lombardi

Bayer AG's impact-investment arm is leading a $17 million series B financing round in U.S. biotech company Azitra Inc.

Leaps by Bayer is investing $8 million in the clinical-stage medical dermatology biotech company, it said Thursday.

"The partnership will focus on developing cutting-edge skin products using engineered and wild-type bacteria for biotherapeutic, over-the-counter (OTC) and cosmetic applications leveraging Azitra's technology platform for both live therapeutic products (LBPs) and consumer programs," it said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

October 15, 2020 07:40 ET (11:40 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Bayer Aktiengesellschaft (PK) (USOTC:BAYRY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Bayer Aktiengesellschaft (PK) Charts.
Bayer Aktiengesellschaft (PK) (USOTC:BAYRY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Bayer Aktiengesellschaft (PK) Charts.