German drug maker Bayer AG has announced it will open an innovation center in Cambridge, Massachusetts.
Bayer says it's in late-stage negotiations for a space that will enable the company to focus on buiding partnerships with area biotechs. The newly formed Bayer East Coast Innovation Center "will serve as a regional hub to strengthen Bayer's ties to the thriving life science community."
The company has similar innovation centers in San Fransisco, Berlin, Beijing, Osaka and Singapore. In San Francisco and Berlin, Bayer hosts a CoLaborator – an incubator space for young life sciences companies with similar therapeutic interests.
Read the Bayer press release