Baxter Ventures to invest $200 million in early-stage companies
Friday, July 29, 2011
“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 CEO 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 invest globally and focus on innovative technologies with sustainable, long-term growth. The company has continued to grow its internal investments in R&D and to pursue business development initiatives, collaborations and alliances as part of its long-term growth strategy.
“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. Norbert Riedel, Baxter’s chief scientific officer.