Mayo Clinic, Baxter Join Forces to Fight Kidney Disease, Other Conditions
Mayo Clinic is teaming up with Baxter International Inc., one of the world’s largest medical device manufacturers, in a five-year research and development partnership.
Few details were provided about the agreement between Rochester-based Mayo and Deerfield, Illinois-based Baxter except that its “primary emphasis” would be to develop “breakthrough treatment options” for a number of medical conditions.
Starting out, the local nonprofit and the medtech giant with over $10 billion in annual sales said jointly that they would focus on kidney disease.
Approximately 14 percent of Americans—or roughly 45 million people—today suffer from some degree of chronic kidney disease, according to the National Institute of Diabetes and Digestive and Kidney Diseases.
“We are excited about combining Mayo’s clinical and research expertise with Baxter’s ability to apply scale and innovation,” Gianrico Farrugia, vice president of Mayo Clinic and CEO of Mayo Clinic in Florida, said in a statement.
Any projects that the two companies collaborate on will occur at Mayo’s campus in Jacksonville, Florida.
“We are confident that this collaboration will help accelerate discoveries, development and application of life-changing therapies for patients,” Farrugia added.
Although the initial agreement between Baxter and Mayo is set to last five years, the two have agreed to terms on a five-year renewal option if the partnership proves fruitful.
Baxter chief executive JosÃ© “Joe” Almeida added in a statement that the company is “pleased to work with Mayo Clinic” as it “shares Baxter’s passion for advancing patient-focused innovation.”