11th Feb 2015 08:18
LONDON (Alliance News) - GlaxoSmithKline PLC said Wednesday that it has acquired the remaining stake in Switzerland based specialist vaccine company GlycoVaxyn AG for USD190 million.
It has held a minority stake in the company since 2012, it said.
The company says the acquisition will bolster its early stage vaccine pipeline, including providing it with a technology which will enable it to develop a simplified cojugated vaccine manufacturing process. GlycoVaxyn has development a biological conjugation platform technology which Glaxo says "has the potential to play an important role in the development of new prophylactic and therapeutic vaccines for a range of bacterial diseases."
With GlycoVaxyn it will acquire a small number of early stage vaccines in development against bacterial infections including pneumonia, pseudomonas, staphylococcus aureus and shigellosis, it said.
Shares in Glaxo are trading up 0.1% at 1,521.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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