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Healthcare giant Baxter leads $38m Naurex financing through venture arm

17 Dec 2012

The venture capital arm of US healthcare giant Baxter International has led a $38m financing round for depression-targeting drug developer Naurex.

Fellow new investor Savitr Capital joined Baxter Ventures in the Series B round alongside a string of existing venture, corporate and private investors.

They included Adams Street Partners, Latterell Venture Partners, Genesys Capital, PathoCapital, Druid Bioventures and Northwestern University.

Naurex said it would use the financing for clinical trials for several drugs aimed at treating depression and central nervous system disorders.

Earlier this year Domain Therapeutics, a French biopharmaceutical company which is researching treatments for Alzheimer’s disease and depression, completed a €2m financing round led by new investor Seventure Partners.

French venture firm Seventure provided half of the funding with the rest committed by another new investor, SODIV, and Domain’s existing shareholders.

Baxter Ventures was launched by Baxter International in 2011 to invest up to $200m in promising companies.

Baxter International had sales of $13.9bn in 2011.

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