Baxter International has signed an agreement with Nanotherapeutics to sell its Vero cell technology and related assets.
The agreement includes its production facility in Bohumil, Czech Republic.
The Vero platform is a cell-based technology for vaccines production. Financial terms of the transaction were not disclosed.
Baxter BioScience president Ludwig Hantson 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.
"In addition, these transactions provide flexibility to direct resources toward strategic priorities that will drive future growth."
Nanotherapeutics will acquire all assets related to the platform, including vaccines for H5N1, H1N1 and seasonal influenza.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The deal includes the acquisition of investigational vaccine programmes for Ross River virus, Chikungunya disease and West Nile virus.
Baxter noted that its 2014 financial results reflect operating results from its vaccines franchise as discontinued operations.
Pfizer recently acquired Baxter’s commercial vaccines business and related manufacturing facilities for $635m.
The portfolio includes NeisVac-C, which helps protect against meningitis caused by group C meningococci (MenC) and FSME-IMMUN / TicoVac that helps protect against brain infection from tick-borne encephalitis (TBE).
Baxter develops and markets products to treat people with haemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions.
Image: Baxter building in Vienna. Photo: courtesy of Gerd Fahrenhorst.