GSK acquire 100 per cent stake in Cellzome $99 million

GSK to acquire 100 per cent stake in Cellzome for $99 million

5:28 AM, 17th May 2012
GSK to acquire 100 per cent stake in Cellzome for $99 million
Tim Edwards, CEO, Cellzome.

LONDON UK: GlaxoSmithKline (GSK) has entered into an agreement to acquire those shares it does not currently own in Cellzome, a leader in the development and advancement of proteomics technologies, for £61 million ($99 million) in cash. GSK currently owns a 19.98 per cent equity interest in Cellzome, will assume full control of the company. The acquisition is expected to complete on 21 May 2012.

Acquisition of Cellzome will give GSK a state-of-the-art, proteomic mass spectrometry and screening capability, enabling greater knowledge of drug targets and their interactions with compounds in the early phases of drug discovery. Through the use of this technology, GSK believes it can reduce attrition of potential new medicines during the development phase.

GSK and Cellzome have two active early stage research collaborations using these discovery capabilities within the immune-inflammation therapy area. With the acquisition, the technologies could be leveraged across GSK’s whole portfolio. “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. 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,” said Tim Edwards, CEO, Cellzome.

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