Bayer buys American company Asklepios BioPharmaceutical
With this investment, the German pharmaceutical group seeks to strengthen its presence and participation in the gene therapy sector
The German pharmaceutical and agrochemical group Bayer announced today the purchase of the American company Asklepios BioPharmaceutical, specialized in cell and gene therapies, with the aim of strengthening its presence in this sector.
According to the statement issued by the company, Bayer will initially allocate 2 billion dollars for the purchase, to which a maximum other 2 billion dollars could be added depending on certain results.
The transaction is expected to be completed before the end of the year and Asklepios will continue to operate as an independent company.
“With this purchase, our still young cell and gene therapy business is taking a big leap forward,” Stefan Oelrich, head of the German company’s pharmaceutical division, told dpa-AFX.
Oelrich explained that the acquisition will complement the work of BlueRock Therapeutics, a company specializing in stem cells also bought by Bayer in 2019 and whose research is focused on Parkinson’s disease.
Source: dpa
