VimRx sells its cell therapy business back to Baxter

VimRx Pharmaceuticals acquired 80.5% of Baxter's cell therapy business, including its Isolex 300 cell separation system in exchange for approximately 2.8mm shares of VimRx common stock and about 66mm shares of its Series A convertible preferred stock. Baxter gets 19.5% of Nexell's common stock, a warrant to purchase an additional 6% of Nexell's outstanding common stock for $6mm, and has the potential to receive milestones that could total $21mm. Baxter paid $30mm for Nexell's 6.5% subordinated debentures, valued at $30mm and which convert to common stock if Nexell files a FOPO.