Inhale Therapeutic Systems, Baxter deal

The companies agreed to use INHL's dry powder pulmonary delivery system as a technology platform, initially to develop four Baxter compounds. The agreement could bring up to $80 million to INHL.

Baxter will purchase $20 million of INHL common shares at a 25 percent premium to the then-current market price. INHL has 10.2 million shares outstanding prior to the investment. Baxter also will provide up to $60 million in R&D payments and milestones. ...