Baxter announces takeover of AesRx

Baxter has agreed a deal to purchase the privately-owned US biopharmaceutical company AesRx for an undisclosed fee.

The company has made an initial payment to acquire AesRx and may make additional future payments depending on the achievement of specified developmental, regulatory and commercial milestones.

AesRx's business is focused on orphan drug targets, including the development and commercialisation of Aes-103, an investigational prophylactic treatment for sickle cell disease that is currently in phase II testing.

Baxter believes this drug development programme complements its existing expertise in haemophilia and that the takeover will further its goal of becoming a leader in the treatment of blood-related disorders.

Dr Ludwig Hantson, president of Baxter BioScience, said: "With this acquisition, we gain a compound that has the potential to address an extremely high unmet clinical need in a community with inadequate treatment options and no recent major clinical developments."

Currently, the company is preparing to spin off its biopharmaceuticals unit into an independent business. Earlier this month, it named Robert Hombach as the chief financial officer of the new organisation.