Bayer HealthCare (BAY) Goes on a Startup Hunt
5/16/2013 8:10:40 AM
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Bayer HealthCare has a matchmaker in QB3. Now it's formalizing that arrangement. The global drug giant announced Wednesday that it signed a three-year deal with the University of California institute and seed-stage funding firm Mission Bay Capital LLC to jointly evaluate, fund and work with startup companies. For Bayer, which settled its U.S. Science Hub and CoLaborator incubator across Third Street from the University of California, San Francisco’s Mission Bay campus in 2011, the partnership provides quick access to young companies working on drugs and diagnostics in its main areas of interest: oncology, cardiology, hematology, women’s health and ophthalmology. The deal also could connect Bayer with up-and-coming technology—synthetic biology and gene therapies, for example—whose future is unclear but ultimately could help Bayer.
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