Plans for Irvine Cell-Therapy Firm Unveiled
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<i> Dow Jones</i>
IRVINE — Vimrx Pharmaceuticals Inc. and Baxter Healthcare Corp. said they have formed a new cell-therapy company that will be based in Irvine.
Baxter provided $30 million and Vimrx $10 million to the new company’s working capital. The companies said Vimrx acquired Baxter’s immunotherapy unit and transferred the unit’s assets to the new company.
The companies had announced plans in July for the new venture. They expect to announce a name for the venture in early 1998.
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