Biopharmaceutical Acquisition Baxter's Bio Science Business Acquires Suppremol
Baxter has acquired Suppremol for EUR 200 million (approximately $225M USD) before working capital and other adjustments. Suppremol is a privately held biopharmaceutical company based in Martinsried, Germany developing treatment options for autoimmune and allergic diseases.
Deerfield/USA; Munich/Germany – The acquisition includes Suppremol's early-stage development portfolio of novel biologic immunoregulatory therapeutics for the treatment of autoimmune diseases, focusing on the modulation of Fc receptor signaling pathways, an immune target that could have broad applications in autoimmune disorders. In addition to the portfolio, Baxter also acquires and will continue to operate Suppremol's operations in Munich.
„ Rare Combination of Leading Science and Promising Therapeutic Assets“
- "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," said Ludwig Hantson, Ph.D., president of Baxter Bio Science.
- "Matching therapeutic innovation with market needs is challenging for biotech companies. Working with Baxter, a global immunology leader, is the ideal setting for Suppremol's promising therapeutic projects to deliver on our most ambitious goal to treat important autoimmune diseases and severe allergies," said Klaus Schollmeier, Ph.D., CEO of Suppremol.
- "Suppremol has built a rare combination of leading science and promising therapeutic assets. We are proud that this important work will now continue at Baxter Bio Science," said Thomas Hecht, MD, Chairman of the Advisory Board of Suppremol.