Bayer to acquire Asklepios Bio for $4B

  • Bayer AG (OTCPK:BAYRY) has agreed to acquire U.S. biotech company Asklepios BioPharmaceutical to strengthen its commitment in the field of cell and gene therapy business across different therapeutic areas.
  • The Company will own full rights to AskBio's gene therapy platform, including a broad intellectual property portfolio and an established contract development and manufacturing organization (CDMO).
  • Under the terms of the agreement, Bayer will pay an upfront consideration of $2B and potential milestone payments of up to $2B, with 75% of the milestone payments to be paid during the course of the next five years.
  • The addition of AskBio will complement the 2019 acquisition of BlueRock Therapeutics and lay the foundation for future partnerships in the area of adeno-associated virus (AAV) therapies.
  • AskBio's portfolio includes investigational pre-clinical and clinical stage candidates for the treatment of neuromuscular, central nervous system, cardiovascular and metabolic diseases.
  • The transaction is expected to close in Q4.

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