By Pietro Lombardi 
 

Bayer AG's impact-investment arm is leading a $17 million series B financing round in U.S. biotech company Azitra Inc.

Leaps by Bayer is investing $8 million in the clinical-stage medical dermatology biotech company, it said Thursday.

"The partnership will focus on developing cutting-edge skin products using engineered and wild-type bacteria for biotherapeutic, over-the-counter (OTC) and cosmetic applications leveraging Azitra's technology platform for both live therapeutic products (LBPs) and consumer programs," it said.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

 

(END) Dow Jones Newswires

October 15, 2020 07:40 ET (11:40 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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