By Mauro Orru

Bayer AG said Monday that it has entered into an agreement with U.S.-based digital health company One Drop for the development of digital-health products for various therapeutic areas.

The deal has a value of $98.7 million.

One Drop said it has secured a $34.7 million Series C financing from Bayer and $64 million in development fees and potential commercial milestone payments.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

August 24, 2020 07:37 ET (11:37 GMT)

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