Bayer, the German pharmaceutical and agriculture firm, will pay California-based Mammoth Biosciences, a CRISPR-focused startup cofounded by Nobel laureate Jennifer Doudna, $40 million to work on gene-editing technologies in four different diseases, the firms said Monday.
The companies said Bayer could eventually pay Mammoth milestones in excess of $1 billion if the projects pan out. Mammoth could receive royalties of up to a low double-digit percentage of sales on marketed products.
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