Bayer, Versant invest $225 million in biotech venture

A BlueRock Therapeutics sign is displayed at a press conference in TorontoBy Solarina Ho and Matt Scuffham TORONTO (Reuters) – German healthcare group Bayer said on Monday it has set up a joint venture with U.S. life sciences venture capital firm Versant Ventures to invest $225 million in a stem cell therapy firm based in Toronto. The companies said the financing, one of the largest ever for an initial round of venture capital funding for a biotech company and the biggest of its kind in Canada, will allow scientists to focus on research and development of treatments for cardiovascular disease and neurodegenerative disorders over the next four years.

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