Casebia launches as joint Bayer and CRISPR Therapeutics venture
Casebia Therapeutics, the joint venture founded by German pharma major Bayer (BAYN: DE) and gene-editing start-up CRISPR Therapeutics, has started its operations.
The two companies had agreed to create a joint venture (JV) to discover, develop and commercialize new breakthrough therapeutics to cure blood disorders, blindness, and congenital heart disease, in December 2015.
In the first quarter of this year, they formally closed the transaction, as part of which Bayer will provide a minimum of $300 million in research and development investments to the JV over a five-year period, and it is acquiring a minority stake in CRISPR Therapeutics for $35 million in cash.
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