Bayer (OTCPK:BAYZF) and Arvinas (NASDAQ:ARVN) say they have finalized the terms of their agreement to jointly launch a new company called Oerth Bio.
Oerth Bio will be supported by intellectual
property and over $55M in committed funding from Bayer and technology
and intellectual property from Arvinas.
Oerth Bio is said to leverage Arvinas’ expertise
in targeted protein degradation and Bayer’s decades of experience in
developing both human therapies and innovative, sustainable agricultural
technologies.
Execs from the Oerth Bio team will be presenting
an overview of the company at Bayer’s Future of Farming Dialogue meeting
being held today in Monheim.
Bayer and Arvinas will equally share governance
and equity ownership of the joint venture. Oerth Bio will build a team
of leading scientists, enabling the company to run as an independent and
sustainable organization.
Source: Press Release
https://seekingalpha.com/news/3502773-bayer-arvinas-launch-new-company-together
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.