GlycoVaxyn AG sells its shares to GSK

17-Feb-2015 - Switzerland

GSK, who was already a minority shareholder in GlycoVaxyn, acquires the company and its biological conjugation platform which may help it to develop a new generation of prophylactic vaccines against bacterial infections. GSK has today paid $190 million to purchase the remaining stake in the company, which is valued at $212 million in total.

GlycoVaxyn, a spin off from the Swiss Federal Institute of Technology (ETH Zurich), announced that it has signed an agreement with its development partner and shareholder GSK to sell all remaining shares to GSK.

GlycoVaxyn’s biologica lconjugation platform originates from ETH Zurich and enables the development of a new generation of conjugate vaccines against major bacterial infections. GlycoVaxyn’s proprietary technology makes it possible to produce conjugate vaccines in bacterial cells by use of modern biotechnology, avoiding chemical conjugation. The platform enables the development of innovative vaccines for a wider range of indications which cannot be produced with a traditional chemical conjugation technology.

The company, which entered into research collaboration with GSK in 2012, is in Phase I clinical trials with a vaccine candidate against E. coli infections and is expected to initiate a Phase I for a vaccine against Shigellosis (severe diarrhea) in the US in the first quarter 2015 with the financial support of the Wellcome Trust.

Bacterial infections such as infections caused by Staphylococcus aureus or E.coli constitute a serious health issue as their ability to resist antibiotic treatments significantly grew over recent years. As a result the role of vaccination to prevent such bacterial infections is becoming increasingly important.

“Since the spin off from ETH Zurich we have successfully advanced our biological conjugation technology and developed a strong pipeline of vaccine candidates. We are delighted to now work even closer with one of the leading vaccine companiesin the world on the development of much needed vaccines” said Michael Wacker, co-founder and Chief Scientific Officer of GlycoVaxyn.

GSK and the GlycoVaxyn 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 and agility of GlycoVaxyn which will be strengthened by the scale and support that GSK can provide.

https://www.bionity.com/en/news/151692/glycovaxyn-ag-sells-its-shares-to-gsk.html