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Over the last six years, a venture capital team run by Bayer invested roughly $1.5 billion into small biotech startups and now the unit is ramping up with plans to invest a nearly identical pot of money — this time, $1.3 billion — in half the time, according to STAT. Bayer launched its venture arm, Leaps by Bayer, in 2015. The team scouts out startups that the drugmaker could invest in and potentially make a bit of money. But more importantly, its mandate is to find biotech and agriculture startups that might one day make for interesting R&D partners, or acquisition targets.

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