Bayer to Acquire a Lead Position in America's Gene Therapy Space
The world's largest pharmaceuticals and chemicals conglomerate took another big step into the gene therapy arena on Monday. Bayer (OTC: BAYRY) has agreed to acquire Asklepios BioPharmaceutical, a privately held U.S. company more commonly known as AskBio.
Bayer will pay $2 billion in cash upfront for AskBio plus up to $2 billion in success-dependent milestone payments. This deal gives Bayer access to gene therapy candidates in early clinical-stage trials for Pompe disease, Parkinson's disease, and congestive heart failure.
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Source Fool.com