GSK Acquires Vaccine Maker GlycoVaxyn
GlaxoSmithKline (GSK) has acquired GlycoVaxyn AG, a specialist vaccine biopharmaceutical company based in 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.
GlycoVaxyn AG was incorporated in 2004 as a spin-off from the ETH Zurich, Switzerland. The company is focused on the development of bioconjugate vaccines against bacterial infections using its bioconjugation platform to develop 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.
Under the terms of the transaction, GSK will additionally acquire a small number of early-stage vaccines in development against bacterial infections, such as pneumonia, Pseudomonas, Staphylococcus aureus andShigellosis, supplementing the company's existing vaccines pipeline.