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Baxter Sets Up Venture Fund for New Therapies

Money stack (Andrew Magill/Flickr)Baxter International in Deerfield, Illinois has established Baxter Ventures to invest in promising early-stage companies developing therapies that complement Baxter’s product lines. Baxter Ventures will make up to $200 million in equity investments and report to Norbert Riedel, the company’s chief scientific officer.

Baxter is a developer of medical devices, pharmaceuticals, and biotechnology solutions. The company has focused its R&D in recent years on medical plastics, biologics (e.g., for treatment of hemophilia), and drug delivery solutions. Baxter says it invested $917 million for R&D in 2009.

Baxter Ventures intends to invest globally and focus on technologies with sustainable long-term growth.  The company says it will continue its internal investments in R&D and to pursue business development initiatives, collaborations, and alliances.

Venture capital for the life sciences appears to be on the upswing in the U.S. Biotech and medical device companies were among the companies most favored by venture investors in the second quarter of 2011, according to the latest MoneyTree report. Last week, True North Partners announced a $300 million fund for early stage enterprises, including those developing innovative solutions in agriculture.

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Photo: Andrew Magill/Flickr

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