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GSK pays 61 million pounds to take control of Cellzome
May 15, 2012 / 10:09 AM / 6 years ago

GSK pays 61 million pounds to take control of Cellzome

LONDON (Reuters) - GlaxoSmithKline (GSK.L) is paying 61 million pounds to take full control of Cellzome, a Anglo-German biotech whose drug discovery platform it is already using to develop treatments for inflammatory diseases.

<p>Signage is pictured on the company headquarters of GlaxoSmithKline in west London July 21, 2008. REUTERS/Toby Melville</p>

GSK took an initial stake in Cellzome in 2008 as part of its strategy to license more drugs from outside firms rather than develop them from in-house research.

GSK said on Tuesday that it hoped that Cellzome’s technology, which assesses drug interactions with target proteins in a setting that mimics the body’s biology, would reduce the number of medicines that fail during development.

Before the deal it had a 19.98 percent equity interest in privately owned Cellzome.

GSK said it would create a spin-off company, which would hold the rights to Cellzome’s assets and activities that it did not wish to progress.

Reporting by Paul Sandle; Editing by Hans-Juergen Peters

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