Bayer to acquire VC-backed BlueRock Therapeutics in $1.3 bln deal
Bayer AG has agreed to acquire BlueRock Therapeutics, a Toronto- and Cambridge, Massachusetts-based developer of engineered cell therapies. The deal values BlueRock at about $1.3 billion (US$1 billion), including the 40.8 percent stake currently held by Bayer. In 2016, Bayer partnered with U.S. life sciences venture capital firm Versant Ventures in founding BlueRock with a US$225 million financing. Bayer said it will pay US$240 million for the remaining stake at closing and US$360 million more when development milestones are met. BlueRock's portfolio is focused on neurology, cardiology and immunology, with a first clinical program in Parkinson's disease expected later this year.
8 August 2019•5 mins read
