Baxter Ventures will report into Norbert Riedel, Baxter's chief scientific officer.
Baxter International, a New York-listed drugs company, has set up a $200m corporate venturing unit to invest in early-stage companies developing therapies that complement Baxter’s existing portfolio.
Baxter Ventures will report into Norbert Riedel, Baxter’s chief scientific officer.
Robert Parkinson, executive chairman aof Baxter, said: "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."
Riedel added: "Through this additional investment, Baxter will expand its internal pipeline with the goal of further strengthening the company’s history of innovative ‘firsts’ in medical therapies."
