By Kim Richters

Germany's Bayer AG (BAYN.XE) said Wednesday that it has led a financing round in a U.S. startup researching potential cancer treatments.

The German conglomerate, which is battling legal cases in the U.S. tying its Roundup weedkiller to cancer, said it had invested $11 million in startup Pyxis Oncology via its investment arm Leaps by Bayer. Investors Agent Capital, Ipsen and Longwood Fund also contributed another $11 million, according to Bayer.

The newly founded Pyxis aims to develop antibody-based immunotherapies for cancer patients.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

July 17, 2019 09:25 ET (13:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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