Mayo Clinic, Baxter launch research and development collaboration

Mayo Clinic and Baxter International Inc. (NYSE:BAX) today announced a new research and development collaboration to advance innovation across a spectrum of therapeutic areas where there are high unmet patient needs.

The collaboration agreement will bring together the clinical and development expertise at Baxter and Mayo Clinic, where clinicians and researchers will work side by side to advance new technologies and therapies that transform patient care. The primary emphasis of the collaboration will be in areas where breakthrough treatment options can be introduced and innovation can drive access to high-quality care.

The first project will focus on kidney disease, with additional projects planned in other areas. Approximately 14 percent of Americans have some degree of chronic kidney disease, and nearly half also have diabetes and/or cardiovascular disease - the two major causes of chronic kidney disease.

"We are excited about combining Mayos clinical and research expertise with Baxter's ability to apply and scale innovation," says Gianrico Farrugia, M.D., vice president, Mayo Clinic, and CEO of Mayo Clinic in Florida, where the collaboration will commence. "We are confident that this collaboration will help accelerate discoveries, development and application of life-changing therapies for patients."

"Baxter is pleased to work with Mayo Clinic, a world-renowned health care organization that shares Baxter's passion for advancing patient-focused innovation," says José (Joe) Almeida, chairman and CEO, Baxter. "The combined power of our two organizations will help us advance new solutions to the most pressing health care challenges, further delivering on Baxter's mission to save and sustain lives."

The initial agreement is for a five-year period, with a five-year renewal option. Additional details of the agreement were not disclosed.

Provided by Mayo Clinic