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Bayer: takes over US cell and gene therapy company

( - Bayer announced on Monday the acquisition of Asklepios BioPharmaceutical, an unlisted US company specialising in cell and gene therapy.

The leading German pharmaceutical group said that it will pay 2 billion dollars to acquire its target, which is based in North Carolina.

The transaction also includes an additional 2 billion dollars in milestone payments, depending on reaching certain clinical targets.

AskBio owns more than 500 patents in the production of chimeric oligo-nucleotides and self-complementary stems. It is currently conducting a series of clinical programs in neurodegenerative, neuromuscular and cardiovascular diseases.

Its main objectives are, for the time being, in the development of treatments for Pompe disease, Parkinson's disease and congestive heart failure, as well as hemophilia and Duchene disease.

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