BAXTER INTERNATIONAL INC acquired Somatogen, Inc. for $206M, a transaction completed in May 1998, structured as Stock merger principally settled in 3,547,004 shares of Baxter common stock, with a contingent deferred cash payment of up to $2.00 per Somatogen share.
Somatogen, Inc. operates in BioScience, is based in Boulder, Colorado, United States. Baxter acquired Somatogen, a Boulder, Colorado biopharmaceutical company developing recombinant hemoglobin technology. The deal strengthened Baxter's position in oxygen-carrying therapeutics (so-called blood substitutes) intended to carry oxygen to vital organs in patients experiencing acute blood loss, complementing its existing hemoglobin therapeutics program.
Enhanced Baxter's recombinant hemoglobin and oxygen-carrying therapeutics research aimed at treating acute blood loss.
Advisory firms were not disclosed for this transaction.