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Business

Bayer to launch cancer research site in Cambridge

by Ryan Cross
April 12, 2019 | A version of this story appeared in Volume 97, Issue 15
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Last fall, Bayer announced it would lay off 12,000 employees worldwide. In a tiny offset, the firm is now making plans for a cancer research center in Cambridge, Massachusetts. Bayer will pay the Massachusetts Institute of Technology about $100 million for a 12-year lease of nearly 5,800 m2 of lab and office space in a new building in Kendall Square, the city’s biotech hub. Bayer has 20 employees in Cambridge and plans to add 75 to the new site when it opens in 2021. The number could double to 150 the following year.

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