Bayer enters a further academic collaboration on innovative cancer therapies

In a further collaboration with academia, German pharma and chemical major Bayer (BAYN: DE) has entered into a strategic alliance with the Broad Institute in Cambridge, Massachusetts, USA, in the area of oncogenomics and drug discovery. Financial terms of the accord were not disclosed.

The Broad Institute, one of the world’s most renowned non-profit biomedical research institutes, brings together scientists from Harvard, MIT and the Harvard-affiliated hospitals, and has deep expertise in genomics, cancer, chemical biology, and drug discovery, says Bayer Healthcare. The goal of this collaboration is to jointly discover and develop therapeutic agents that selectively target cancer genome alterations over a period of five years.

Bayer has previously highlighted the importance of strategic partnerships with academic centers in its core areas of therapeutic interest, as well as with pharmaceutical and biotech companies whose technologies are complimentary to its internal expertise. It cites as examples its partnerships with the German Cancer Research Center DKFZ in Heidelberg, the Tsinghua University in Beijing, China, and the National University of Singapore.