Bayer’s CRISPR experiment comes to an end
Back in 2016, when seemingly every pharma company needed a play in genome editing, German giant Bayer went with CRISPR Therapeutics, launching a joint venture and promising to spend $300 million on its work.
That endeavor will soon be no more. The company, Casebia Therapeutics, is going to cease operations as an independent entity and get absorbed by CRISPR Therapeutics, according to The Boston Globe. Yesterday’s announcement came four days after Bayer officials declined to tell the Globe whether Casebia was still in business.
There’s a long history in biotech of major drug makers buying into a hot new technology — whether RNAi, mRNA, or smart contact lenses — only to bail after a few years when the early returns don’t go quite as imagined. But it’s unclear whether that’s what happened at Bayer. As the Globe points out, the company is in the midst of a large-scale restructuring in an effort to save money, and its future in genome editing could be a casualty of that.
That endeavor will soon be no more. The company, Casebia Therapeutics, is going to cease operations as an independent entity and get absorbed by CRISPR Therapeutics, according to The Boston Globe. Yesterday’s announcement came four days after Bayer officials declined to tell the Globe whether Casebia was still in business.
There’s a long history in biotech of major drug makers buying into a hot new technology — whether RNAi, mRNA, or smart contact lenses — only to bail after a few years when the early returns don’t go quite as imagined. But it’s unclear whether that’s what happened at Bayer. As the Globe points out, the company is in the midst of a large-scale restructuring in an effort to save money, and its future in genome editing could be a casualty of that.
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