GlaxoSmithKline Buys Okairos for $324 Million
GlaxoSmithKline (GSK) recently announced it has acquired Okairos AG (Okairos), a specialist developer of vaccine platform technologies for approximately $325 million in cash.
Swiss-based Okairos, a private company, has developed a novel vaccine platform technology that is expected to play an important role in GSK’s development of new prophylactic vaccines (designed to prevent infection) as well as new classes of therapeutic vaccines (designed to treat infection or disease). Okairos’ technology complements GSK’s existing vaccine technology and expertise and will enable GSK to continue its work developing the next generation of vaccines. The deal also includes a small number of early stage assets.
The acquisition reinforces GSK’s commitment to investment in innovative science. GSK’s vaccines business sits alongside pharmaceuticals and consumer healthcare as part of a balanced business and product portfolio capable of delivering sustainable sales growth.
“This is a fantastic opportunity for patients and our research organization as it is expected to contribute to the development efforts for an exciting new generation of vaccines, building on the excellent science and expertise of both companies,” said Christophe Weber, President, GSK Vaccines.
“I am extremely pleased with this agreement, which will enable GSK to build on the hard work we have put into developing our vaccines and platforms to the stage that they are at today,” added Riccardo Cortese, Chief Executive Officer and Founder, Okairos. “With its considerable resources and know-how, I am confident that GSK is best-placed to maximize this opportunity to potentially transform the vaccines landscape.”
Under the terms of the transaction, GSK will take full ownership of the company and thus assume ownership of early stage assets for diseases such as respiratory syncytial virus (RSV), hepatitis C virus (HCV), malaria, tuberculosis, ebola, and HIV, supplementing the company’s existing vaccines pipeline. GSK and the Okairos management team are committed to an innovative collaboration and will work together over the next few months to develop ways of working that will maintain the autonomy, spirit, and agility of this unique small biotech firm, which will be strengthened by the support and advantages that GSK can provide.
Okairos is a non-listed clinical-stage biopharmaceutical company, developing genetic vaccines for major infectious diseases, including malaria, hepatitis C, HIV, respiratory syncytial virus and cancer, using a novel proprietary technology. Okairos’ platform technology is based on novel viral vectors (mechanisms which deliver genetic material into cells) that are designed to help stimulate immune responses, (in particular T-cells) and aim to protect against and treat infectious diseases and cancer. The potential of this technology has been tested in clinical studies in which over 700 subjects have been vaccinated, including Phase II programs in hepatitis C and malaria. The company is also pursuing therapeutic vaccines to treat cancer. For more information, visit www.okairos.com.
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