Baxter establishes US$200m venture arm
To invest in early stage therapies
Baxter International is to set up its own corporate venture unit with plans to invest up to US$200m in promising early stage companies developing therapies that complement the company’s existing portfolio.
Baxter Ventures will invest globally and focus on innovative technologies with sustainable long-term growth. The company has grown its internal investments in r&d to pursue business development initiatives, collaborations and alliances as part of its long-term growth strategy.
Baxter Ventures will report to Norbert Riedel, Baxter'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 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.’