GSK bets $2.1bn on Boston-based biopharma company
GlaxoSmithKline has agreed to acquire Affinivax, a clinical-stage biopharmaceutical company based in Cambridge, Boston and focusing on developing vaccines.
In a deal announced yesterday, May 31, GSK said it would pay $2.1 billion upfront to acquire Affinivax and up to $1.2 billion in potential development milestones.
Hal Barron, chief scientific officer and president R&D at GSK, said: “The proposed acquisition further strengthens our vaccines R&D pipeline, provides access to a new, potentially disruptive technology, and broadens GSK’s existing scientific footprint in the Boston area.
“We look forward to working with the many talented people at Affinivax to combine our industry-leading development, manufacturing, and commercialisation capabilities to make this exciting new technology available to those in need.”
Currently, Affinivax’s most advanced vaccines are the pneumococcal vaccines. Pneumococcal disease includes pneumonia, meningitis, bloodstream infections, and milder diseases such as sinusitis.
As part of the deal, GSK gains access to Affinivax’s most advanced vaccine candidate (AFX3772), which is currently in clinical testing.
Affinivax had originally licensed AFX3772 to Astellas back in 2017, as part of a partnership formed between the pair. But, in February this year, the companies reworked their agreement, with Affinivax reacquiring the exclusive worldwide rights to ASP3772.
GSK’s acquisition is expected to close in the third quarter of 2022.
Steven Brugger, CEO of Affinivax, said: “Affinivax grew out of our founders’ scientific and personal vision to drive vaccine innovation to make a meaningful impact on people’s lives, in both developed and developing countries. Over the past eight years, we have taken that vision from the initial development of our MAPS vaccine platform at Boston Children’s Hospital to a pipeline of novel vaccines with our lead vaccine candidate in late-stage clinical studies.”
The move comes just a month and a half after GSK announced its plan to acquire California-based biopharma company Sierra Oncology for $1.9 billion.
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