By Cecilia Butini

Bayer AG said Thursday that it has invested in U.S.-based company Metagenomi, which focuses on gene-editing techniques in order to advance therapies in oncology and genetics diseases.

The German chemical and pharmaceutical conglomerate has co-led a $65 million series A financing for Metagenomi through its investment arm Leaps by Bayer together with Humboldt Fund, the companies said in a joint statement.

"Capital raised during this round will enable Metagenomi to accelerate the expansion of its gene editing systems for potential therapeutic use. In addition, Metagenomi will advance research and preclinical validation for its own pipeline," the companies said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

November 12, 2020 07:51 ET (12:51 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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