Bayer Acquires Asklepios BioPharmaceutical
Bayer AG acquired Asklepios BioPharmaceutical, Inc., a US-headquartered biopharmaceutical company specialized in the research, development and manufacturing of gene therapies across different therapeutic areas. Under the terms of the agreement, Bayer will pay an upfront consideration of USD 2 billion and potential success-based milestone payments of up to USD 2 billion. The addition of AskBio to Bayer’s emerging cell and gene therapy (CGT) business strengthens Bayer’s commitment to the field. AskBio’s gene therapy platform includes a cell line manufacturing process and an extensive AAV capsid and promoter library. Bayer’s newly established CGT unit will combine Bayer’s activities in this area moving forward in order to establish an innovation ecosystem for the participating partners within the Bayer organization.