UPDATE: GSK acquires remainder of GlycoVaxyn for $190 million
UK pharma major GlaxoSmithKline (LSE: GSK) this morning said that it has acquired Switzerland-based GlycoVaxyn, a specialist vaccine biopharmaceutical company that wasincorporated in 2004 as a spin-off from the ETH Zurich, Switzerland.
Since forming a scientific collaboration in 2012, GSK has held a minority stake in GlycoVaxyn and has now acquired the remaining shares for $190 million in cash to take full ownership of the company, valuing the company at around $212 million.
GlycoVaxyn has developed an innovative biological conjugation platform technology which has the potential to play an important role in the development of new prophylactic and therapeutic vaccines for a range of bacterial diseases. This proprietary technology also has the potential to enable GSK to develop a simplified conjugate vaccine manufacturing process.
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