Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Sep 16, 2008

Bayer Takes Over Direvo Biotech for Roughly $298M to Bolster Biologic Capabilities

  • Bayer HealthCare is buying Direvo Biotech for €210 million, or almost $298 million, in cash. The firm’s subsidiary, Direvo Industrial Biotechnology, has been sold in a separate deal to a group of investors.

    The company formed out of Direvo Industrial Biotechnology completed a €8 million, or $11.35 million, financing in the form of Series A preferred stock. Bankhaus Woelbern and NRW Bank led the round and was joined by TVM-Capital, Danisco, Signet Healthcare, Mulligan BioCapital, and several private investors.

    The new entity holds exclusive rights to the Direvo Biotech’s platform for all areas besides biopharmaceutical development. The company currently receives administrative and technical services from the parent company until it builds up of its own capabilities, which is expected to be completed within a year.

    Bayer HealthCare gains a preclinical pipeline of antibodies and proteases and a high-throughput protein-engineering platform. Direvo Biotech's R&D personnel and capabilities will be integrated into Bayer Schering Pharma's organization. Its Cologne site will be maintained by Bayer Schering Pharma as a center of expertise for biologicals.

Be sure to take the GEN Poll

Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

More »