U.K.-based drug maker GlaxoSmithKline plc (GSK,GSK.L) said Wednesday that it has acquired Switzerland-based vaccine developer Okairos AG for $325 million, or 215 million pounds, in cash. The company noted that the deal will strengthen its vaccine business.
Okairos, a non-listed clinical-stage biopharmaceutical company, has developed a novel vaccine platform technology that GlaxoSmithKline expects will play an important role in its own development of new prophylactic vaccines designed to prevent infection and new classes of therapeutic vaccines designed to treat infection or disease.
GlaxoSmithKline noted that Okairos' technology will complement its existing vaccine technology and enable it to continue to develop the next generation of vaccines. The deal also includes a small number of early stage assets.
Okairos' platform technology is based on novel viral vectors that are designed to help stimulate immune responses, particularly T-cells, and aim to protect against and treat infectious diseases as well as cancer.
GlaxoSmithKline noted that the potential of this technology has been tested in clinical studies in which more than 700 subjects have been vaccinated, including Phase II programs in hepatitis C and malaria.
Under the terms of the transaction, GSK will take full ownership of Okairos and also assume ownership of early stage assets for diseases such as respiratory syncytial virus or RSV, hepatitis C virus, malaria, tuberculosis, ebola and HIV, supplementing the company's existing vaccines pipeline.
Okairos was supported by investments from four life science venture capital firms - BioMedInvest, the Boehringer Ingelheim Venture Fund, LSP, Novartis Venture Funds and Versant Ventures.
GSK closed Wednesday's trading at $52.01, down $1.58 or 2.95 percent on a volume of 4.70 million shares.
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