Bayer to Collaborate on Gene Editing Technology With Mammoth Biosciences

   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 [e-mail]

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(END) Dow Jones Newswires

January 10, 2022 04:32 ET (09:32 GMT)

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