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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Bayer buys stem cell therapy developer BlueRock in $600 million deal

The German drugmaker has placed a big bet on stem cell therapy with its recent acquisition of BlueRock Therapies as it looks to strengthen development pipeline.

Bayer has acquired BlueRock Therapeutics in a deal valued at $600 million (£494.4 million) that will give it a platform to research and develop new stem cell therapies.

‘This acquisition marks a major milestone on our path towards a leading position in cell therapy,’ President of Bayer’s Pharmaceuticals Division Stefan Oelrich said.

Bayer’s share price climbed more than 6% on Thursday following the deal announcement.

Bayer deal values BlueRock at $1 billion

The German drugmaker helped setup Bluerock as part of a joint venture with Versant Ventures three years ago, with Bayer buying up the remaining 59.2% stake to take full control of the stem cell therapy developer.

Bayer will acquire the remaining stake for approximately USD 240 million in cash to be paid upfront at closing and an additional USD 360 million payable upon achievement of pre-defined development milestones.

With Bayer currently holding 40.8 percent stake, the investment corresponds to a total company value of BlueRock Therapeutics of approximately USD 1 billion. The deal, subject to regulatory approval, is expected to close in the third quarter of 2019.

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Bayer bets big on stem cell therapies

The deal represents a major investment from the German drugmaker into a promising new medical area, with stem cell therapies showing significant clinical benefit, particularly in diseases previously deemed intractable.

BlackRock specialises in induced pluripotent stem cells (iPSC), which effectively reprogram mature cells to behave like stem cells which can be injected and restore diseased tissue in patients.

‘We have built a premier cell therapy platform at BlueRock Therapeutics, with industry-leading R&D, process development and manufacturing capabilities,’ BlueRock Therapeutics CEO Emile Nuwaysir said.

‘With the expertise and support of Bayer, we will be even better positioned to pursue the discovery, development and commercialization of revolutionary new cell therapies for patients suffering from diseases previously thought of as intractable.’

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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