Nexell to Sell Unit to Baxter International

Nexell Therapeutics Inc. in Irvine said Tuesday it agreed to sell its cell-processing business to its biggest shareholder, Baxter International, for $4.3 million, plus unspecified royalties on future product sales.

Nexell announced the transaction in June, but financial details were not disclosed. Nexell’s remaining work force was reduced by 18 employees. The companies expect to complete the transaction by Oct. 1, Nexell said.