Steritech Inc., Baxter Healthcare Corp. deal

Steritech and Baxter's Biotech Group will develop pathogen inactivation systems for blood components, with a near-term focus on red blood cells and plasma. Steritech's technology inactivates blood-borne pathogens while preserving the biologic function of the blood components.

The companies will jointly fund the development of inactivation systems and will share operating profits. Baxter will make an up front equity investment in Steritech, as well as additional equity investments as certain milestones are achieved. In return, Baxter's Fenwal division receives exclusive worldwide marketing rights to all products from the collaboration. ...