Bayer's innovation chief on the value of betting big and preparing to fail

Big pharma has spent a lot of money founding or funding small firms recently. This is partly a strategic choice on the part of management - some have a surfeit of candidates, with limited resources and expertise in-house.

But for Dr Kemal Malik, innovation chief and Bayer (BAYN: DE) board member, his firm’s investment in several cell and gene therapy companies looking at early stage science is about more than just the economics of R&D.

At the recent GapSummit biotech event in Cambridge, UK, Dr Malik told The Pharma Letter the key to these investments is the therapeutic modalities under the microscope, what he calls a “third wave” of innovation.