Zytoprotec, an Austria-based company developing dialysis treatments for kidney failure, has raised €2m ($2.7m) from Baxter Ventures, the corporate venturing unit of the eponymous drugs company, as part of a planned €4m series A round. Norbert Riedel, chief science and innovation officer at Baxter International, will join Zytoprotec’s supervisory board. In May, Zytoprotec completed its phase I/II clinical trial with its lead product, PD-protec, and said it would be starting phase II and was “in advanced negotiations with a venture fund closely linked to a global pharmaceutical company”. Zytoprotec had started an industrial partnership with Baxter in 2011 and raised €2.5m that year as seed money.

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