Baxter Acquires Biotech Co. for $70M

Apr 03, 2014

Baxter International

Baxter International Inc. has agreed to acquire privately held Chatham Therapeutics for an initial payment of $70 million, giving Baxter access to developmental gene therapy programs directed toward the development and commercialization of treatments for hemophilia.

In May 2012, Baxter and Chatham entered into a collaboration to evaluate Chatham's Biological Nano Particle platform as a potential treatment for hemophilia B, known as BAX 335, which is currently in a Phase I/II study. As a result of this acquisition, Baxter obtains broad access to Chatham's gene therapy platform, including the previously partnered hemophilia B program, a preclinical hemophilia A program, and the potential future application to additional hemophilia treatments.

Last week, Baxter announced plans to create two separate, independent healthcare companies - one focused on developing and marketing biopharmaceuticals and the other on medical products.

Read the Baxter/Chatham aquisition press release