Baxter Partners with Mayo Clinic and Velocity to Form New Company
Baxter announces that it will partner with Mayo Clinic and Velocity Pharmaceutical to form Vitesse Biologics, a Baxalta-managed company focused on immunology, hematology, and oncology.
On June 1, 2015, Baxter Ventures, the Mayo Clinic, and Velocity Pharmaceutical Development announced the formation of Vitesse Biologics, a company that will focus on the development of antibody and protein-based therapeutics in immunology, hematology, and oncology. Baxalta, which was named Baxter International’s new biopharmaceutical arm in September 2014, will be the managing body of Vitesse.
The new company was developed as a collaborative effort to advance therapies quickly. According to a press release, Baxter BioScience will “provide global commercialization, antibody and protein development, and manufacturing;” Mayo Clinic will execute Phase I clinical trials; and Velocity “will be responsible for target identification, selection of early stage drug candidates, and will lead the design and execution of pre-clinical and clinical protocols.”
"By creating Vitesse, our business is executing on a new concept in early stage R&D by leveraging the expertise of industry-leading partners to accelerate the identification and development of novel biologic treatments that could eventually contribute to unmet patient needs while enhancing the Baxalta commercial portfolio,” said Ludwig N. Hantson, PhD, president of Baxter BioScience, in a press release.
Source: Baxter
Baxalta
