Baxter To Invest in Early-Stage Therapies

Baxter International Inc. plans to invest as much as $200 million in equity in companies with promising early-stage therapies through its new Baxter Ventures fund. “Baxter’s mission is to apply innovative science to develop therapies and medical technologies that save and sustain patients’ lives,” said Robert L. Parkinson, Jr., chairman and chief executive officer of Baxter. “As the company’s internal capabilities have advanced our late-stage pipeline, we have the capacity to further accelerate the early-stage development of essential therapies.”

Baxter Ventures will report to Norbert Riedel, Ph.D., the company’s chief scientific officer. “Baxter Ventures will allow us to provide companies with promising, early-stage technologies with the capital and expertise needed to drive successful innovation,” said Dr. Riedel. “Through this additional investment, Baxter will expand its internal pipeline with the goal of further strengthening the company’s history of innovative ‘firsts’ in medical therapies.”