Grifols acquires minority stake in US biotech firm
Grifols (GRLS: MC), a Spain-based manufacturer of plasma-derived drugs, is set to acquire a minority stake in a US biopharmaceutical company based in San Francisco (California) specialized in the discovery and development of pre-clinical biotherapeutics.
Under the terms of the deal, Grifols will pay $35 million in cash for a 43.96% share in GigaGen, which focuses its activity on discovering new biological treatments by using antibodies derived from millions of cells within immune repertoires.
Among other applications, its innovative technological platform enables identifying and analyzing the genetic diversity of B cells to convert them into polyclonal recombinant antibodies (biotherapeutics) that improve outcomes for patients with severe diseases.
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