Baxter, Mayo, And VPD Launch Vitesse

The venture arm of Baxter has teamed with Velocity Pharmaceutical Development (VPD) and the Mayo Clinic to launch Vitesse Biologics, a collaboration to develop antibody- and protein-based therapeutics. Each partner will play a role in the drug development process. VPD will identify drug targets, pick early-stage molecules, and take on preclinical studies. Mayo will conduct Phase I trials of drug candidates, and Baxter BioScience will contribute manufacturing and commercialization capabilities. Baxter BioScience, which will soon be spun off into a stand-alone company called Baxalta, will have an exclusive option to acquire any product developed by Vitesse after Phase I studies are complete.