Baxter, Ramot at Tel Aviv University and Tel Aviv Sourasky Medical Center Partner to Bring New Surgical Innovations Worldwide
Thursday, July 6, 2017
Source: Hawaii News Now
Baxter International Inc. (NYSE:BAX), a global medical products company, and Tel Aviv University (TAU), through Ramot, its Business Engagement Center, today announced new licensing agreements including global joint research efforts to evaluate multiple technologies currently under development at the university as well as at Tel Aviv Sourasky Medical Center (TASMC). Baxter will collaborate with TAU and TASMC to help bring the early-stage research to commercialization with the goal of bringing to market the latest innovations in surgical care.
“Baxter is committed to finding creative pathways to bring innovative solutions to the operating room,” said Wil Boren, president of Advanced Surgery at Baxter. “By working with leading experts at TAU and TASMC, we have access to promising early-stage research that could have a meaningful impact for surgeons looking for new tools to treat complex cases.”
Under terms of the agreements, Baxter will exclusively license the TAU Technology Innovation Momentum Fund technology in one license agreement and TAU and TASMC technology in the second license agreement for use in multiple potential applications that might result from the joint research activity.
“TAU is world renowned as a leading academic and research institution for its innovation and entrepreneurship. We are gratified to see another one of TAU’s technologies graduating from our unique value enhancement program the TAU Technology Innovation Momentum Fund,” said Shlomo Nimrodi, chief executive officer of Ramot, the Business Engagement arm of TAU. “We are happy to partner with Baxter to explore how we can bring leading technologies to operating rooms worldwide.”
Baxter, TAU and TASMC plan to explore potential applications of multiple projects that target large, unmet needs that, if successful, will expand Baxter’s portfolio of products into new areas of surgical care for the company. Surgical care represents a core strategic growth pillar for Baxter, and these projects have the potential to complement Baxter’s existing product offering and provide access to novel treatments.
Additional details of the agreements were not disclosed.
Baxter provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; surgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.