Baxter to Divest Vero Cell Vaccines Platform to Nanotherapeutics
Baxter International Inc. has 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.