After playing coy in August, Baxter (NYSE:BAX) today confirmed Cambridge, Mass., as the new R&D hub for Baxalta, the planned spinout of its biopharmaceuticals business.
Baxter is based in Deerfield, Ill., where Baxalta likewise will be based after its spinout planned for the middle of next year.
Speculation that Baxter would move its own HQ into Cambridge’s Kendall Square was prompted in August by a Boston Business Journal report that Bay State officials were working on a secret plan dubbed "Project Tiger" to lure Baxter. But a Baxter spokeswoman told the Chicago Sun-Times via email that the company has no plans to move its headquarters out of Illinois and stayed mum about any other plans, in Massachusetts or otherwise.
The 200,000-square-foot Cambridge facility will include 400 R&D staff as well as those focused on business development, oncology and biosimilars teams, according to a press release.
Baxter said it undertook a global search for Baxalta’s research and development lab, choosing Cambridge for a consolidation of functions that are currently in California and Europe. Baxalta will maintain some R&D in Vienna, the company said.
"Critical elements to our success as an independent biopharmaceuticals company will be our ability to accelerate innovation, optimize R&D productivity, and deliver on our promise to patients," Baxter BioScience president Ludwig Hantson said in prepared remarks. "Joining this unmatched biotech community is an important step."