Baxter to Divest Vero Cell Vaccines Platform to Nanotherapeutics
DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX) today announced that it has entered into a definitive agreement to sell its proprietary Vero cell technology and related assets, including its production facility in Bohumil, Czech Republic, to Nanotherapeutics, Inc. Financial details were not disclosed.
The Vero cell platform is an advanced, cell-based technology for vaccines production. The agreement with Nanotherapeutics includes all assets related to the platform, including vaccines for H5N1, H1N1 and seasonal influenza. The agreement also includes investigational vaccine programs for Ross River virus, Chikungunya disease and West Nile virus.
In recent weeks, the company has also completed the sale of its commercial vaccines business and related manufacturing facilities to Pfizer Inc.
''The divestiture of the vaccines franchise will allow Baxter BioScience to enhance focus in core therapeutic areas of hematology, oncology and immunology, as it prepares to become an independent biopharmaceutical company,'' said Ludwig Hantson, Ph.D., president of Baxter BioScience. ''In addition, these transactions provide flexibility to direct resources toward strategic priorities that will drive future growth.''
Baxter's financial results for 2014 reflect the operating results from its vaccines franchise as discontinued operations.
About Baxter BioScience
Baxter BioScience is a leading provider of therapeutic treatments that save, sustain and improve the lives of people with rare conditions, chronic diseases or limited treatment options. Supported by advanced technical and manufacturing expertise, Baxter BioScience has a broad pipeline built on a legacy of innovation in bleeding disorders and immunology and is expanding to address emerging opportunities in niche areas of oncology as well as technology platforms such as biosimilars.
About Baxter International Inc.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning the sale of part of Baxter's vaccines business, including its financial impact on the company. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: failure to obtain the necessary approvals and consents or to satisfy other closing conditions; a material adverse change in the vaccines business; actions of regulatory bodies and other governmental authorities; changes in laws and regulations; product quality or patient safety concerns; and other risks identified in Baxter's most recent filing on Form 10-K and other SEC filings, all of which are available on Baxter's website. Baxter does not undertake to update its forward-looking statements.
Baxter International Inc.
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