Bayer Set to Fork Over USD 4 Billion for AskBio’s Gene Therapies
Germany-based Bayer is set to acquire North Carolina-based Asklepios BioPharmaceutical (AskBio) with motives to get its hands on its gene therapies.
Bayer will pay USD 2 billion in upfront payment in exchange for AskBio's AAV-based gene therapy pipeline treatments for Pompe disease, Parkinson’s disease, and congestive heart failure. Bayer will pay another USD 2 billion in milestone payments.
AskBio leverages its Pro10 AAV manufacturing process that is used by several pharma giants. The company holds several patents in areas such as AAV production, chimeric vectors, and self-complemen...
