LEVERKUSEN (dpa-AFX) - Bayer AG Wednesday updated its progress in transforming its pharmaceutical business with breakthrough innovation in healthcare.
At its virtual Pharma Media Day, under the theme 'Transforming Healthcare. Transforming Bayer', the company revealed innovation in cell and gene therapy as well as digital health that will significantly help patients suffering from conditions that are currently still difficult to treat.
Bayer said it recently heavily invested in external innovation with more than 25 collaboration agreements and acquisitions.
Stefan Oelrich, Member of the Board of Management, Bayer AG and President of Bayer's Pharmaceuticals Division, said, 'We are driving this transformation and growing our promising development portfolio together with our partners. Our joint goal is to bring breakthrough treatments to patients and make healthcare systems more sustainable in the mid- and long-term.'
With cell and gene therapies, Bayer offers possibility to address the root cause of disease, providing options for conditions considered intractable or where the current standard of care only addresses symptoms to different degrees.
Bayer has established a new Cell and Gene Therapy Platform. Its development portfolio of cell and gene therapies comprises seven advanced assets in different stages of clinical development. With over fifteen preclinical assets in the cell and gene therapy field, the pipeline is expected to grow steadily year by year.
Further, in digital health, Bayer is developing Integrated Care concepts which offer individual support of patients. This personalized approach addresses complex and interconnected health challenges within the individual circumstances.
Bayer and the digital health company Informed Data Systems Inc. are expanding their business based on IDS's existing diabetes management platform.
The company further said it is continuing to build a strong development pipeline advancing more than 50 projects through the clinic with a focus on cardiovascular diseases, oncology and women's health.
In Germany, Bayer shares were trading at 51.52 euros, up 2.34 percent.
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