Bayer commits $25m to Versant's fifth fund

Bayer will commit $25m to the fund, which will back the development of new therapies "in areas of high unmet medical need". It has also taken a seat on Versant's advisory board, in common with other investors to the fund. Versant will continue to hold full decision-making rights in relation to the fund.

Bayer and Versant already worked together on drug discovery incubator Inception Sciences, which carried out early research into retinal eye diseases. Versant subsequently established Inception 4, a company that aims to develop treatments for patients suffering from eye diseases. Bayer holds an exclusive option to acquire this company in the future.

Leverkusen-headquartered Bayer HealthCare generates annual turnover of €18.9bn. Its divisions include animal health, consumer care, medical care and pharmaceuticals. It has a global workforce of 56,000 employees and operates in 100 countries.

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