Bayer (OTCPK:BAYRY) has agreed to acquire the 59.2% of privately held BlueRock Therapeutics that it does not own for $240M in upfront cash plus up to $360M contingent on the achievement of certain development milestones. The transaction should close this quarter.
The company acquired 40.8% of the cell therapy developer when it established BlueRock with Versant Ventures in 2016 with $225M in Series A financing. Bayer will own full rights to its CELL+GENE platform.
BlueRock’s lead program is in Parkinson’s disease.
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