GSK announced Tuesday morning that it is acquiring Affinivax, a U.S.-based biotech company, for up to $3.3 billion.
As part of the deal, GSK will pay $1.2 billion upfront as well as up to $2.1 billion in certain pediatric clinical development milestones. The deal is subject to regulatory approval and is expected to close in Q3 2022.
The acquisition of the U.S.-based clinical-stage biotech allows the British pharma giant to bolster its vaccine roster, specifically in next-generation pneumococcal vaccines.
“The proposed acquisition further strengthens our vaccines R&D pipeline, provides access to a new, potentially disruptive technology and broadens GSK’s existing scientific footprint in the Boston area,” said Dr. Hal Barron, chief scientific officer and president of R&D at GSK, in a statement. “We look forward to working with the many talented people at Affinivax to combine our industry-leading development, manufacturing and commercialisation capabilities to make this exciting new technology available to those in need.”
The move was announced weeks after the company officially rebranded itself as GSK. The drugmaker is also working on a planned de-merger to spin out its consumer healthcare business by July, which will include brands such as Sensodyne, Panadol, Advil, Voltaren, Theraflu and Centrum.
As for Affinivax, the transaction seeks to boost the resources available for developing the company’s leading vaccine candidate, AFX3772. The drug includes 24 pneumococcal polysaccharides and two conserved pneumococcal proteins.
In July 2021, AFX3772 received a Breakthrough Therapy designation from the Food and Drug Administration. Phase III trials to prevent S. pneumoniae invasive disease and pneumonia in adults 50 years and older are expected to start soon.
“We are proud that GSK has recognized our team’s accomplishments and are confident that GSK is an ideal new home for our MAPS platform and the team behind its success,” said Steven Brugger, CEO of Affinivax, in the statement. “GSK’s significant capabilities will enable continued advances with MAPS to improve existing vaccines — as is the case with our lead Streptococcus pneumoniae MAPS vaccine program — and develop vaccines that combat novel and resistant infectious diseases for which there are no effective immunization strategies available today.”
