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Bayer Acquires BlueRock Therapeutics; Gains Full Rights To CELL+GENE Platform

Bayer AG (BAYZF.PK,BAYRY.PK,BYR.L) has agreed to fully acquire BlueRock Therapeutics, a biotechnology company focused on developing engineered cell therapies. With the acquisition, Bayer will own full rights to BlueRock Therapeutics' CELL+GENE platform, including a broad intellectual property portfolio and associated technology platform including iPSC technology.

BlueRock Therapeutics was founded in 2016 by Versant Ventures and Bayer AG, under a joint venture. Bayer currently holds 40.8 percent stake in BlueRock. Bayer will acquire the remaining stake for approximately $240 million and an additional $360 million payable upon achievement of milestones. The total investment by Bayer corresponds to a total company value of BlueRock at approximately $1 billion. BlueRock Therapeutics will continue to operate as an independent company.

BlueRock Therapeutics' portfolio of cell therapies is currently focused on neurology, cardiology and immunology. The company's lead program in Parkinson's disease is expected to enter the clinic by the end of 2019.

Stefan Oelrich, Member of the Board of Management, Bayer AG, said: "We have decided to build our cell therapy pipeline based on BlueRock Therapeutics' iPSC platform."

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