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GSK to acquire clinical-stage biopharmaceutical company Affinivax

The agreement includes an upfront payment of $2.1 billion and two potential development milestones.

BioPharma

LONDON (dpa-AFX) - British drug company GlaxoSmithKline (GSK.L) will buy Boston-based vaccine developer Affinivax in a deal worth $2.1 billion, as per press releases issued by both the two companies

Affinivax is developing a vaccine to combat pneumococcal diseases which include pneumonia and meningitis as well as milder illnesses such as sinusitis.

Pfizer and Merck have each won FDA approvals in the past year for new pneumococcal vaccines, but GSK aims to top both of them with its $2.1 billion acquisition of Affinivax. That biotech’s Phase 3-ready vaccine candidate addresses more bacterial strains than any pneumococcal vaccines currently available.

The acquisition of the U.S.-based biotech bolsters GSK's vaccine roster.

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