GlaxoSmithKline plc (GSK) announced today that they have agreed to acquire shares of Cellzome that they do not currently own for $99 million in cash.
Cellzome is a privately owned research company and a leader in development and advancement of proteomics technologies. Their laboratories are in the UK and Germany.
“The acquisition of Cellzome adds significantly to our scientific capabilities and capacity to characterize drug targets and provides the opportunity to further enhance GSK’s ability to bring medicines to patients in a more effective manner,” senior vice president, Platform & Technology Science at GSK, John Baldoni said.
The company develops technologies for profiling compounds in cells and patients samples, and differ by assessing drug interactions with target proteins in a setting that mimics a whole biological system. This allows scientists to determine safety issues at an earlier stage in the process.
Since 2007, this is the third platform technology acquisition by GSK. Previous acquired companies are Domantis Ltd, a leader in development of next generation of antibody therapies and Praecis, a company that created novel therapeutic programs and an innovative chemical-synthesis and screening technology.
“We are pleased to announce this transaction, which will enable GSK to progress the technologies that we have been developing for more than a decade,” said Tim Edwards, CEO of Cellzome. “This follows nearly four years of successful collaboration with GSK, during which time we demonstrated the value and breadth of the Cellzome platform for drug discovery.”
The anticipated completion of acquisition date is May 21.Source: GlaxoSmithKline