Bayer to Collaborate on Gene Editing Technology With Mammoth Biosciences
10 January 2022 - 08:47PM
Dow Jones News
By Ed Frankl
Bayer AG said Monday that it will collaborate on novel
gene-editing technology with California-based diagnostics company
Mammoth Biosceiences.
Mammoth would received an upfront payment of $40 million and
potential future milestone payments of more than $1 billion upon
successful achievement of certain research, development, and
commercial milestones with a first focus on liver-targeted
diseases, Bayer said.
The German pharmaceutical conglomerate also said it will pay
Mammoth research funding and tiered royalties up to low
double-digit percentage of net sales.
"Partnering with Mammoth's cutting-edge scientific team is a
fundamental pillar for our company to improve the lives of patients
suffering from conditions that are currently still difficult to
treat," said Stefan Oelrich, President of Bayer's pharmaceuticals
division.
The agreement will allow Bayer to unleash the full potential of
its cell- and gene-therapy strategy, Mr. Oelrich added.
Write to Ed Frankl at edward.frankl@dowjones.com
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(END) Dow Jones Newswires
January 10, 2022 04:32 ET (09:32 GMT)
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