Berlin / Boston, June 29, 2022 – Bayer AG announced today the opening of its new Research and Innovation Center at Kendall Square in Boston-Cambridge, Massachusetts (U.S.A.), expanding further the company’s footprint into one of the world’s most innovative pharmaceutical research and development locations. Representing a total $140M USD investment into the area, Bayer’s 62,100-square-foot building houses a new center of precision molecular oncology research equipped with state-of-the-art laboratories and offices for the development of novel targeted cancer therapies for patients. In addition, the center comprises a newly established research team focused on leveraging chemical biology techniques to further propel the company’s oncology drug development process.
“Our new Bayer research and innovation center at Kendall Square is part of our strategy to be at the forefront of scientific discovery and breakthrough innovation for better patient healthcare,” said Stefan Oelrich, Member of the Board of Management, Bayer AG and President of Bayer’s Pharmaceuticals Division. “Being part of this unique innovation ecosystem will support our teams in creating breakthrough innovations for patients together with the experts here.”
“Bayer has a growing community of world-class innovators – from our internal experts and partners such as Vividion, to our global network of academic and industry partners, many of which are located right here in the Boston area,” said Christian Rommel, Member of the Executive Committee of Bayer AG’s Pharmaceutical Division and Head of Research and Development at Bayer. “Our new research and innovation center in Kendall Square brings us closer to these partners, to fellow scientists and institutions that join us in our mission to keep pushing the boundaries of medical innovation with the purpose of bringing impactful health solutions to patients.”
“We have brought a number of unique oncology treatments to patients over the past years,” said Christine Roth, Member of the Executive Committee of Bayer’s Pharmaceutical Division and Head of the Oncology SBU at Bayer. “Our ambition is to play a significant role in the next wave of breakthrough innovations in oncology. The opening of our new research center at Kendall Square with its dedicated research group of precision oncology experts demonstrates our commitment to investing in the next wave of innovation that has the potential to impact the way cancer is treated.”
“At Kendall Square, we find the innovation-driven businesses, entrepreneurship, world-class academics, cutting-edge research, breakthrough technologies, infrastructure, and culture to support our strategic goals,” said Marianne De Backer, MBA, Ph.D., Member of the Executive Committee of the Pharmaceuticals Division and Head of Strategy, Business Development & Licensing and Open Innovation at Bayer. “It helps us to further solidify our presence and commitment in this vibrant and growing ecosystem that gives us an opportunity to connect with current and future pioneers in the pharmaceutical sector. We are here to develop long-lasting relationships that will accelerate our quest for novel treatments and technologies. Together, we will leverage our cumulative expertise and resources, and truly transform patient lives.”
Spanning across two floors, the new center currently provides space for 100 employees, while the company is prepared to fill an additional 50 roles in the coming months. It is designed to enhance the collaboration between Bayer research and development, its internal partners such as BlueRock Therapeutics, Asklepios BioPharmaceutical (AskBio) and Vividion Therapeutics, as well as external partners to accelerate the development of transformative treatments for patients. In addition to the new center at Kendall Square in Cambridge, Bayer has also established strategic research collaborations with top scientific partners in Boston, including joint laboratories in the areas of lung disease with Brigham and Women’s Hospital and Massachusetts General Hospital and precision cardiology with the Broad Institute of MIT and Harvard.
The Research and Innovation Center also marks a strategic investment into Bayer’s oncology innovation to transform healthcare for people living with cancer worldwide, and at the same time to ensure sustainable long-term growth for the company. Striving to become a top 10 oncology company by 2030, Bayer is investing a significant portion of its global R&D budget toward oncology. The new precision molecular oncology research center will drive the development of targeted next-generation cancer therapies, including efforts to help people living with cancer benefit from molecular tests and targeted treatments through biomarker testing.
Bayer has a 160-year track record of delivering scientific innovation for patients in areas of high medical need and has long embraced external innovation and partnering. Since 2020, Bayer has secured more than 40 transactions in business development and licensing and invested $1.5B USD in partnerships through its Leaps by Bayer impact investments, and the new center is expected to play a role for future partnering investments and collaborations.
With this new center, Bayer is expanding its operations in the leading life sciences cluster worldwide. Boston-Cambridge is home to approximately 1,000 biotechnology companies, with Kendall Square being the center of pharmaceutical innovation on the East Coast of the USA. The company is now present in four of the largest biotechnology hubs in the United States – Boston, San Francisco, San Diego and Research Triangle Park, NC.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros. For more information, go to www.bayer.com.
Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Bayer.com – https://www.bayer.com/media/en-us/bayer-opens-new-research–innovation-center-in-boston-cambridge-demonstrating-its-commitment-to-precision-oncology/