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Northwestern University and Baxter Healthcare Corporation will create a multidisciplinary research and innovation alliance, the two entities announced today.
Under the three-year renewable agreement, Baxter will fund research-collaboration projects at Northwestern. Funding levels for each year may reach approximately $1 million, and Baxter will determine specific project funding levels on a case-by-case basis. Aligned with Baxter's diversified business model, activities will focus on new therapeutics, biomedical and device engineering, biomaterials and drug-delivery technologies.
Faculty from across the University will conduct the research. A committee of senior research and development leaders from Northwestern and Baxter will assist in the identification of potential projects. The McCormick School of Engineering and Applied Science's Office of Corporate Relations will administer the alliance.
"We believe this partnership with Baxter will benefit everyone involved," said Northwestern University President Henry S. Bienen. "It will lead to fostering the development of cutting-edge technology and bringing it to the marketplace."
McCormick Dean Julio M. Ottino agreed, adding, "I'm confident that our shared interests in these research areas combined with the high level of entrepreneurship among McCormick faculty and students will prove fruitful."
The partnership builds on the strong relationship between Northwestern and Baxter. The company already collaborates with the University on topics ranging from stem cell and nanotechnology research to student recruitment.
"Northwestern is unique in the way it connects its schools -- engineering, business and medical -- in a 'real world' way, encouraging translation of research into products that can advance patient care," said Norbert Riedel, Baxter's corporate vice president and chief scientific officer.
This is one of the most significant partnerships that Northwestern has developed with a health care company. Northwestern has similar partnerships with Honeywell, Ford Motor Company and Boeing International.
Baxter Healthcare Corporation is a subsidiary of Baxter International Inc. Baxter International Inc. develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. As a global, diversified health care company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
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