Suppremol accepts Baxter’s €200m

Baxter International has acquired Germany-based biotech firm Suppremol for €200m ($225m).

Suppremol, spun-out from the Max Planck Institute and based on the research of Nobel Prize Laureate in Chemistry Robert Huber, has developed a portfolio of therapeutics for autoimmune diseases.

The firm has raised $37.9m in external funding, according to deal data provider Crunchbase, and its stakeholders include MIG Fonds, BioMedPartners, Santo Holding GmbH and FCP Biotech Holding GmbH along with KfW Mittelstandsbank, Bayern Kapital, Max Planck Society, and Z-Cube.

Ludwig Hantson, president of Baxter BioScience, said: ”SuppreMol’s portfolio of novel investigational treatments complements and builds upon our leading and differentiated immunology portfolio, offering the opportunity to expand into new areas with significant market potential and unmet medical needs in autoimmune diseases.”