By Giulia Petroni

Bayer AG said Tuesday that it has entered into a strategic partnership with service-provider Nuvisan GmbH to create a new research unit specialized in molecule research in Berlin.

The German pharmaceutical-and-chemical company said it would transfer a large part of its Berlin-based molecule research unit to Nuvisan and that the new research center will create around 400 jobs.

The financial terms of the deal weren't disclosed.

Bayer said the transaction is expected to close in mid 2020.

Berlin remains the headquarters of Bayer's pharmaceutical division, the company said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 11, 2020 04:22 ET (09:22 GMT)

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