December 12, 2016 / 12:24 PM / 7 months ago

Bayer, Versant to invest $225 million in biotech venture

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TORONTO, Dec 12 (Reuters) - German chemicals and healthcare group Bayer said it had set up a joint venture with U.S. life sciences venture capital firm Versant Ventures to invest $225 million in stem cell therapy technology.

The companies said the financing, one of the largest ever Series A for a biotech company, would allow the venture to develop a number of projects with an initial focus on cardiovascular diseases and neurodegenerative disorders. (Reporting by Matt Scuffham)

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