Baxter's busy alumni network
In biotech, it pays to be a Baxter alumnus. In August of 1994, Procept Inc. began thinking about acquiring vaccine technology based on a novel discovery in the area of antigen presentation, but the company didn't want to increase its burn rate. The result was VacTex Corp., a company formed by PRCT with backing from Boston Medical Investors Inc.
Boston Medical is a group of successful biotech executives who started their careers at Baxter, led by Robert Carpenter (a member of Genzyme Corp.'s board and chairman of GelTex Pharmaceuticals Inc.) and including Henri Termeer (chairman and CEO of GENZ) and Gabriel Schmergel (president and CEO of Genetics Institute Inc.), as well as Stanley Erck (president and CEO of PRCT), and prominent researchers such as George Whitesides of Harvard University...