Bayer and Kinnow Bio have reached a $1.3 billion cooperation agreement.

Bayer announced on Tuesday that it has reached a $1.3 billion partnership agreement with Kinorange Biomedical Sciences to jointly develop new anticancer drugs. The collaboration aims to strengthen Bayer's product portfolio in the field of cancer treatment, especially in pancreatic cancer, colorectal cancer, and lung cancer. The deal highlights Bayer's strategic focus on precision cancer treatment, despite recent underperformance in its core business.