Baxter International Inc. announced that it has established Baxter Ventures to invest up to $200 million in equity in promising early-stage companies developing therapies that complement Baxter’s existing portfolio.

Baxter Ventures will invest globally and focus on innovative technologies with sustainable long-term growth, the company said. Baxter Ventures will report into Norbert Riedel, PhD, Baxter’s Chief Scientific Officer.

"Baxter Ventures will allow us to provide companies with promising, early-stage technologies with the capital and expertise needed to drive successful innovation,” said Dr. Riedel. “Through this additional investment, Baxter will expand its internal pipeline with the goal of further strengthening the company’s history of innovative 'firsts' in medical therapies."