GlaxoSmithKline acquires GlycoVaxyn for $190M
Wednesday, February 11, 2015
GlaxoSmithKline has acquired GlycoVaxyn, a specialist vaccine biopharmaceutical company based in Switzerland. Since forming a scientific collaboration in 2012, GSK has held a minority stake in GlycoVaxyn and now has acquired the remaining shares for $190 million in cash to take full ownership of the company.
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.
GSK additionally will acquire a small number of early stage vaccines in development against bacterial infections such as pneumonia, Pseudomonas, Staphylococcus aureus and Shigellosis, supplementing the company’s existing vaccines pipeline.
GSK and the GlycoVaxyn management will work together over the next few months to develop ways to maintain the autonomy and agility of GlycoVaxyn while delivering the scale and support GSK can provide.
GSK now has purchased all shares in GlycoVaxyn, valuing the company at $212 million. GlycoVaxyn was supported by investments from life science venture capital firms including Sofinnova Partners, Index Ventures and Edmond de Rothschild Investment Partners. GlycoVaxyn also received funding from the Wellcome Trust and through a collaboration with Janssen Pharmaceuticals.
GlycoVaxyn was incorporated in 2004 as a spin-off from the ETH Zurich, Switzerland. The company is focused on the development of next-generation bioconjugate vaccines against bacterial infections, utilizing its versatile and innovative bioconjugation platform.