image credit: Mike Steele / Flickr

Bayer to Pay up to $4B for Gene Therapy Firm AskBio

Bayer AG has acquired Asklepios BioPharmaceutical, Inc. (AskBio) for $2 billion upfront and potential success-based milestone payments of up to $2 billion.

The U.S.-headquartered biopharma specializes in the research, development and manufacturing of gene therapies across different therapeutic areas. AskBio’s development portfolio includes investigational pre-clinical and clinical stage candidates for the treatment of neuromuscular, central nervous system, cardiovascular and metabolic diseases.

ayer will own full rights to AskBio’s gene therapy platform, including a broad intellectual property portfolio and an established contract development and manufacturing organization (CDMO) laying the foundation for future partnerships in the area of adeno-associated virus (AAV) therapies.

Read More on Contract Pharma