Bayer has announced the launch of a next-generation regenerative medicine company called BlueRock Therapeutics, in partnership with Versant Ventures.
The two companies are committing $225 million (177.05 million pounds) to establish the new company's platform and pipeline, representing one of the largest-ever series A financings for a biotechnology company.
“Bayer allies with Versant Ventures to launch a new stem cell therapy company called BlueRock Therapeutics.“
This will provide BlueRock Therapeutics with at least four years of runway, allowing it to advance a number of programmes into the clinic, with an initial focus on cardiovascular diseases and neurodegenerative disorders.
Its overall goal will be to develop best-in-class induced pluripotent stem cell therapies to cure a range of diseases, using an industry-leading platform, supported by strategic partnerships with leading academic and industry collaborators in the US, Canada and Japan.
BlueRock Therapeutics will be led by a world-class team, with representatives of both Bayer and Versant among its board members.
Kemal Malik, member of the board of management of Bayer responsible for innovation, said: "We are launching this enterprise to develop transformative and curative therapies for patients based on the latest stem cell technology."
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