Implied total company value of up to USD 1 billion, inclusive of 40.8 percent stake currently held by Bayer / Initial focus in neurology, cardiology, and immunology with start of first clinical program in Parkinson’s disease expected later this year / BlueRock Therapeutics to continue to operate as an independent company
Berlin/Cambridge, Massachusetts, August 8, 2019 – Bayer AG and BlueRock Therapeutics today announced an agreement under which Bayer will fully acquire BlueRock Therapeutics, a privately held US-headquartered biotechnology company focused on developing engineered cell therapies in the fields of neurology, cardiology and immunology, using a proprietary induced pluripotent stem cell (iPSC) platform.
Following a 2016 joint venture with Versant Ventures to establish BlueRock Therapeutics, Bayer will acquire the remaining stake for approximately USD 240 million in cash to be paid upfront at closing and an additional USD 360 million payable upon achievement of pre-defined development milestones. With Bayer currently holding 40.8 percent stake, the investment corresponds to a total company value of BlueRock Therapeutics of approximately USD 1 billion. The closing of the transaction is expected during the third quarter of 2019 READ MORE AT BAYER…
