Baxter Ventures invests €2m in Zytoprotec

The company has just completed a phase I/II trial for its lead product PD-protec, a next-generation solution for peritoneal dialysis (PD), and plans to enter a phase II trial following the transaction.

Baxter Ventures was established by Baxter International in 2011 to invest up to $200m in new businesses.

Company
Zytoprotec is a biotech company founded in Vienna in 2007. The business develops drugs by exploiting active cytoprotection as a novel therapeutic approach. It has established a research platform for the identification of cytoprotective compounds.

Prior to Baxter's funding, the company raised €6.7m from its founders, corporate, private and institutional investors, as well as Austrian public agencies.

People
Baxter chief science and innovation officer Norbert Riedel will join Zytoprotec's supervisory board as part of the transaction.

Advisers
Company - Wolf Theiss (Legal). 

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• Topics
• Early-stage
• DACH
• Healthcare
• Austria