(CercleFinance.com) – GSK announced today that it has completed the acquisition of Affinivax, a biopharmaceutical company based in Cambridge (Boston, Massachusetts) pioneering in the development of a new class of vaccines, in particular pneumococcal vaccines of new generation.
The acquisition of Affinivax is part of GSK’s strategy to build a strong portfolio of specialty medicines and vaccines.
It includes a next-generation 24-valent pneumococcal vaccine candidate (AFX3772), currently in phase II development. GSK adds that a candidate pneumococcal vaccine over 30 valent is also in preclinical development.
Under the terms of the agreement, GSK has acquired 100% of the outstanding shares of Affinivax. The acquisition included an upfront payment of $2.1 billion paid upon closing and two potential milestone payments of $0.6 billion payable upon achieving certain pediatric clinical development milestones.
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