OTHER NEWS - Nov. 29, 1994
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From Times Staff and Wire Reports
Biotech Firm Strikes Deal With Bayer: Arris Pharmaceutical Corp. said Bayer AG will invest up to $70 million as part of an agreement to jointly develop anti-inflammatory drugs. Under the agreement, Arris, a South San Francisco biotechnology company, will receive royalties and Bayer, a Germany-based drug company, will receive worldwide manufacturing and marketing rights on any drugs that they develop together. Arris will receive an initial payment and additional funds as it reaches certain milestones.
