Bayer and the Basel domiciled CRISPR Therapeutics AG have entered into an agreement to create a joint venture (JV) to discover, develop and commercialize new breakthrough therapeutics to cure blood disorders, blindness, and congenital heart disease. CRISPR Therapeutics will contribute its proprietary CRISPR-Cas9 gene-editing technology and intellectual property, while Bayer will make available its protein engineering expertise and relevant disease know-how. Bayer will provide a minimum of USD 300 million in R&D investments to the JV over the next five years. In addition, Bayer will acquire a minority stake in CRISPR Therapeutics for USD 35 million in cash.

Walder Wyss acted as legal advisor to Bayer. The team included Alexander Gutmans (Partner, Corporate/M&A), Alexander Nikitine (Partner, Corporate/M&A)  and Robert von Rosen (Managing Associate, Corporate/M&A).