The specialized organ that provides nourishment and filters away waste products from the developing baby is called the placenta.
The placenta is a multifunctional organ that develops during the pregnancy. It connects the developing fetus to the uterine wall and it functions are to allow nutrient uptake, thermo-regulation, production of hormones waste elimination, protection (fight against infection) and gas exchange via the mother's blood supply. The fetus's umbilical cord develops from the placenta.