Regeneron and Bayer expand deal to develop new option for wet-AMD
US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) said yesterday that it has expanded its accord with German partner Bayer (BAYN: DE) to jointly develop an innovative antibody to the platelet-derived growth factor receptor beta (PDGFR-beta) as a potential combination therapy with Eylea (aflibercept) for wet age-related macular degeneration (wet-AMD).
Reacting to the news, shares of Regeneron dipped 2.1% to $268.68 in after-hours trading yesterday, while Bayer’s stock slipped 2.0% to 96.33 euros in early trading this morning.
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