Blood disorders, blindness and congenital heart disease? The new Bayer Life Science Center (BLSC) in Germany and CRISPR Therapeutics (Switzerland) have now created a joint Venture to tackle cures for these rare genetic defects.
CRISPR Therapeutics will contribute its proprietary CRISPR-Cas9 gene-editing technology and intellectual property, while Bayer will make available its protein engineering expertise and relevant disease know-how. The new joint venture, which is yet to be branded, will be based in London (UK) with operations being run from Cambridge, Massachusetts (US).
Bayer will pledge around €275M R&D investments to the Joint-venture over the next five years, in addition, to acquiring a minority stake in CRISPR Therapeutics for €32M.
As CEO and Co-Founder of CRISPR Therapeutics, Rodger Novak, explained, the Swiss biotech will keep a 50% ownership in the high-risk, high-reward areas of blood disorders, blindness, and congenital heart diseases. However, it will also retain full access to target delivery technologies and IP development by the joint venture.