GlycoVaxyn's research spin-out LimmaTech starts operations

LimmaTech Biologics on Friday announced it has formally started operations following the acquisition of GlycoVaxyn by UK pharma major GlaxoSmithKline (LSE: GSK) earlier this year.

Following the acquisition, GlycoVaxyn’s operational research business was transferred to a new company, LimmaTech Biologics. LimmaTech Biologics is not a GSK‐owned company. GSK and LimmaTech Biologics have signed a research agreement with a minimum term of five years to allow the company to develop novel bioconjugate antigen‐based vaccines exclusively for GSK to bolster GSK’s pipeline of innovative vaccines and to develop new products in other fields.

Under the terms of the agreement, GSK will retain full ownership of early stage bioconjugate antigens and candidate vaccines which were previously developed by GlycoVaxyn, as well as other candidates in the vaccine field including newly developed candidates. LimmaTech Biologics will be in a position to generate proprietary therapeutic products in areas outside of vaccines.