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Baxter Ventures, Mayo Clinic, Velocity Pharma Create Vitesse Biologics

Baxter Ventures of Baxter International Inc. (BAX), together with the Mayo Clinic and Velocity Pharmaceutical Development, LLC Monday announced the formation of Vitesse Biologics, LLC, with a focus on early stage research and development, by leveraging expertise in various fields.

Vitesse will focus on the development of antibody and protein-based therapeutics in the areas of immunology, hematology, and oncology. Baxter is in the process of a spin off to Baxalta Inc. by mid 2015.

The collaboration will help advance promising therapies quickly through the development process. As per the agreement, Baxter BioScience will provide global commercialization, antibody and protein development and manufacturing capabilities; Mayo Clinic researchers will execute the Phase I clinical trials; VPD 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.

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