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Bayer announced a $4 billion acquisition of AskBio, a gene therapy company, to strengthen its cell and gene therapy pipelines.
will first advance $2 billion to obtain a gene therapy platform for AskBio.
addition to the advance, Bayer will pay up to $2 billion in additional payments based on the milestone.
75 per cent of potential milestone payments are expected to be made within the next five years, according to a statement released today by Bayer.
AskBio's adeno-related gene (AAV) treatment platform has shown potential in a variety of diseases, and the company's main research program focuses on Pompeia, Parkinson's disease and congestive heart failure.
since its inception in 2001, the company has developed hundreds of proprietary third-generation AAV casings and starters to improve efficacy, immune response, and tissue and organ specificity.
photo source: Jude Samulski, co-founder of AskBio, is a pioneer in gene therapy and has created two AskBio subsidiaries, Bamboo Therapeutics and Chatham Therapeutics, focusing on Duchia muscular dystrophy and haemophilia, respectively.