Bayer sets up cell and gene platform to foster purchased biotech firms

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FILE PHOTO: The historic headquarters of German pharmaceutical and chemical maker Bayer AG is pictured in Leverkusen

FRANKFURT (Reuters) – Bayer said it was setting up an organisation within its healthcare division to speed up and support cell and gene therapy development, following recent takeovers.

The new platform will provide services such as research, manufacturing, clinical development and project management to support the new business.

Bayer acquired cell and gene therapy companies BlueRock Therapeutics and Asklepios Biopharmaceutical in 2019 and 2020, respectively.

(Reporting by Ludwig Burger; Editing by Riham Alkousaa)

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