Bayer Invests $124M in Drug Development Deal with CuraGen, Pens Separate Deal for Obesity Drug | GenomeWeb

NEW YORK, Jan 16 – Bayer said Tuesday it had agreed to make an $85 million equity investment in CuraGen as well as provide an additional $39 million in funding in exchange for Curagen’s commitment to use its functional genomics tools to evaluate the pharmaceutical giant’s early-stage pipeline of compounds.

The collaboration is an expandable, five-year deal.

In addition, the companies also announced plans to work together to discover and commercialize small molecule drugs for treating obesity and adult onset diabetes.

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