Bayer, Versant launch stem-cell therapy venture BlueRock Therapeutics

Bayer AG and Versant Ventures have partnered to launch BlueRock Therapeutics, a joint venture that will use breakthrough treatments in stem-cell technology to cure a range of 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, a Bayer AG Board of Management member, said in a news release. “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.”
BlueRock Therapeutics will aim to develop best-in-class induced pluripotent stem cell (iPSC) therapies. Bayer and Versant plan on contributing $225 million to the endeavor, which represents one of the largest-ever series A financings for a biotech company.
With the funds, BlueRock Therapeutics should have a runway length of four years, giving it time to advance a number of programs. The first will focus on cardiovascular diseases and neurodegenerative disorders.
“We have closely tracked the field of regenerative medicine for the past five years and believe the time is right to invest in stem cell therapies given recent breakthroughs in cell differentiation, manufacturing and engineering,” Dr. Jerel Davis, managing director at Versant Ventures, said. “We are delighted to team up once again with Bayer and to be partnering with such a distinguished group of founders and institutes.”