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

FILE PHOTO: The logo of Bayer AG is pictured at the facade of the historic headquarters of the German pharmaceutical and chemical maker in Leverkusen, Germany, April 27, 2020. REUTERS/Wolfgang Rattay

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