Bayer (ETR:BAYN) and Versant Ventures said today that the 2 groups closed a $225 million Series A financing round to launch BlueRock Therapeutics, a regenerative medicine company focused on developing induced pluripotent stem cell therapies. The funds are estimated to support the company for 4 years as it advances cell therapy clinical programs for cardiovascular and degenerative diseases.
“Accessing cell based therapies is part of Bayer’s strategy. We are launching this enterprise to develop transformative and curative therapies for patients based on the latest stem cell technology,” Kemal Malik, member of the Board of Management of Bayer AG, said in prepared remarks. “We have partnered with Versant Ventures to build a leading player in this field by securing exclusive access to these breakthrough technologies for BlueRock Therapeutics.”