Cambridge vaccine developer scooped up for $3.3B by GlaxoSmithKline

GlaxoSmithKline has entered into a definitive agreement to acquire Affinivax Inc., a Cambridge vaccine developer, in a deal valued at up to $3.3 billion. Under the terms of the agreement, GSK (NYSE: GSK) agreed to pay Affinivax shareholders $2.1 billion upfront and additional payments of up to $1.2 billion if undisclosed pediatric clinical development milestones are achieved. Founded in 2014, Affinivax is developing a novel class of vaccines, the most advanced of which are next-generation pneumococcal…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news