Pharmaprojects R&D Pipeline News Feed
Domantis sale completion: GSK proves a dAb hand at acquisition
19 Jan 2006
GlaxoSmithKline (GSK) has bolstered its biopharmaceuticals portfolio with the purchase of UK-based speciality antibody company, Domantis.
Acquisition of Domantis's proprietary antibody technology, the dAb (domain antibody) platform, gives GSK a chance to expand upon Domantis's already pioneering approach to developing next generation antibody therapeutics. With the additional gain of exclusive access to intellectual property for Domain Antibodies, GSK is now the only company capable of fully exploiting the area.
GSK's confidence in the transaction was emphasised by comments from Mike Owen, Senior Vice President Biopharmaceuticals CEDD, at GSK.. He stated, "Its talent and world-leading technology will complement the work we are already taking forward in the CEDD to put GSK at the forefront of biotechnology".
Australian biotechnology company, Peptech, which held a 31.02% share in Domantis, has received £71.3 million from the transaction. This will aid the acceleration of its lead compound PN-0621 into clinical trials, expected in the second quarter of 2007.
