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GSK PLC on Tuesday said it has completed the acquisition of Massachusetts-based clinical-stage biopharmaceutical company Affinivax Inc.
GSK said the acquisition aligns with its strategy of creating a strong portfolio of speciality medicines and vaccines. ‘It includes a next-generation 24-valent pneumococcal vaccine candidate, currently in phase II development, which is based on the highly innovative multiple antigen presenting system platform technology,’ it noted.
GSK Chief Scientific Officer Tony Wood said: ‘Affinivax's exciting pneumococcal vaccine candidates, the potentially disruptive MAPs technology and their fantastic scientific talent, further strengthen our pipeline of novel vaccines and presence in the Boston area’.
In May, GSK agreed to buy Affinivax for an initial payment of $2.1 billion, with potentially a further $1.2 billion coming in milestone payments.
GSK shares were up 1.9% at 1,433.20 pence each on Tuesday morning in London.
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