Bayer AG and BlueRock Therapeutics declared an agreement under which Bayer will acquire BlueRock Therapeutics, a privately held US-headquartered biotechnology company targeted on developing engineered cell therapies in the fields of cardiology, neurology, and immunology, using a proprietary produced pluripotent stem cell (iPSC) platform.
A 2016 joint project with Versant Ventures to build BlueRock Therapeutics, Bayer will purchase the remaining stake for about USD 240 million in money to be paid upfront at closing and an extra USD 360 million payable upon achievement of pre-defined development milestones. With Bayer presently holding 40.8 % stake, the investment corresponds to a total firm worth of BlueRock Therapeutics of roughly USD 1 billion. The closing of the deal is expected during the third quarter of 2019.
The convergence of cell biology and engineering has enabled a necessary new treatment modality for patients, with significant clinical benefit demonstrated in diseases beforehand deemed intractable. Particularly of degenerative illnesses, the place cell loss and low self-restore potential happen, such as cardiac muscle loss or degenerative neurological issues, regenerative cell remedy offers the unprecedented possibility to have a significant benefit for patients.
BlueRock Therapeutics’ portfolio of cell therapies is currently focused on neurology, cardiology, and immunology with a lead program in Parkinson’s disease expected to enter the clinic by the tip of 2019. Amongst neurodegenerative disorders, Parkinson’s illness is the fastest growing in prevalence, disability, and mortality. The primary and most debilitating symptom of Parkinson’s disease is a progressive lack of motor management. Stem cell remedy might re-innervate the human mind and reverse degenerative disease, doubtlessly restoring motor function to more than seven million patients affected by Parkinson’s disease globally.
In 2016, Bayer and founding investor Versant Ventures established BlueRock Therapeutics with a USD 225 Million Sequence a Financing as a part of the Leaps by Bayer unit. Leaps is complementary to Bayer’s divisional R&D approach and works on establishing new firms and investing in new early-stage technologies with breakthrough potential which have the potential to prevent or cure some of today’s most significant health concerns.