Grifols acquires remaining 56% of the US biopharma GigaGen
Spanish drugmaker Grifols (GRLS: MC) today announced the closing of its agreement with GigaGen to acquire its remaining 56% share capital for $80 million, with the news sending Grifols’ share up nearly 2% to 19.79 euros by late afternoon.
Grifols acquired a 44% stake in GigaGen in July 2017 for $35 million through Grifols Innovation and New Technology (GIANT), which channels the group's investments in R+D+i companies and other related projects.
GigaGen is a US biotechnology company specialized in the early discovery and development of recombinant biotherapeutic medicines. GigaGen’s research focuses on discovering new biological treatments based on antibodies derived from millions of immune system cells obtained from donors.
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