Baxter has announced that it will be divesting its Vero Cell vaccines platform - an advanced cell-based technology for vaccines production - to Nanotherapeutics.
The companies have signed a definitive agreement that will see Baxter transfer its proprietary Vero cell technology and related assets, including its production facility in Bohumil, Czech Republic, to Nanotherapeutics for an undisclosed fee.
“Baxter has agreed to sell its proprietary Vero cell technology and related assets to Nanotherapeutics for an undisclosed fee.“
This deal includes all assets related to the platform, including vaccines for H5N1, H1N1 and seasonal influenza, as well as investigational vaccine programmes for Ross River virus, Chikungunya disease and West Nile virus.
Dr Ludwig Hantson, president of Baxter BioScience, said: "The divestiture of the vaccines franchise will allow Baxter BioScience to enhance focus in core therapeutic areas of haematology, oncology and immunology, as it prepares to become an independent biopharmaceutical company."
This comes after company also completed the sale of its commercial vaccines business and related manufacturing facilities to Pfizer earlier this month.
Baxter is seeking to optimise its portfolio and enhance its focus on specific disease areas, and is also planning to spin off of its bioscience organisation into a separate, independent global biopharmaceutical company.See all the latest jobs in Pharmaceutical