• Versant Ventures’ portfolio company, Bluerock Therapeutics acquired by Bayer AG for approximately USD 1 billion.
• This acquisition represents Versant’s robust progress in the region of Canada.

California headquartered Versant Ventures reportedly announced the acquisition of its cell therapy company BlueRock Therapeutics by Germany based Bayer AG which was valued at USD 1 billion. This represents an added important transaction by the Versant-formed companies.

As per credible sources, Versant considered the plan and commenced to build BlueRock in 2015 with opinion that stem cells had the potential to yield regenerative therapeutics based considering the fundamental advances achieved in cell differentiation, production and engineering.

Reportedly, the preliminary seed phase covered over a year allowing the required time to secure foundational technology from the recognized universities of Toronto and New York.

Speculation has it that in December 2016, BlueRock originated with USD 225 million in Series A round led by Versant and Bayer. Making use of this financing, the company extended its ranks with a commendable team including over more than 70 scientists at its R&D facility.

As per sources, Bayer has been claimed to acquire the shares in BlueRock for about USD 600 million, with about USD 240 million up front and up to USD 360 million preclinical and early clinical milestone payments.

Brad Bolzon, the Managing Director and chairman at Versant was reportedly quoted stating that the BlueRock acquisition strengthen the firms’ current approach to recognize the promising new discoveries happening in the field of science across the globe.

Jerel Davis, Managing Director, Versant and board director BlueRock was quoted stating that Versant has successfully established a Canadian presence to identify the unexploited sources of innovations in the emerging fields. The firm is looking forward for a global recognition with Bayer’s acquisition of BlueRock.

For the records, 1999 established Versant Ventures is a principal healthcare venture capital firm dedicated to helping excellent entrepreneurs build the next generation of great companies. The firm lays major emphasis on biotechnology companies that are currently discovering and evolving novel therapeutics.

Source credit: https://www.businesswire.com/news/home/20190808005234/en/Versant-Ventures-Announces-Acquisition-Cell-Therapy-Company