Gene Therapy Push | Bayer to acquire US-based biotech firm AskBio for up to $4 billion
- Advertisement -
In a bet on cutting-edge gene therapy that aims to treat or prevent diseases using genes, Germany’s Bayer agreed to acquire the US-based biotech firm Asklepios BioPharmaceutical Inc for as much as $4 billion.
For this deal, the company will pay $2 billion upfront and up to an additional $2 billion in milestone payments based on development achievements.
It must be mentioned here that AskBio was co-founded by Richard Jude Samulski who pioneered the use of adeno-associated viruses as vehicles to replace defective genes with healthy genes.
