Volume 86 Issue 38 | p. 37 | Concentrates
Issue Date: September 22, 2008

Bayer Acquires Protein Firm Direvo

Department: Business

Bayer has acquired Direvo Biotech, a drug discovery firm specializing in protein engineering, in a cash deal valued at approximately $300 million. Direvo's technology platform has been applied to a range of proteins, including therapeutic antibodies and proteases that will be added to the preclinical pipeline of Bayer Schering Pharma. Direvo's Cologne, Germany, site will become a fourth center of biologics expertise for Bayer, which operates two other facilities in Germany and one in the U.S. Direvo's industrial biotechnology business has been sold to a group of investors, who will develop its expertise in the food, feed, and biorefinery markets.

 
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