GSK entered a definitive agreement May 31 to purchase Affinivax, a clinical-stage, Boston-based biopharmaceutical company, for $2.1 billion and up to $1.2 billion in potential development milestones.
Affinivax is developing a novel class of vaccines, including pneumococcal vaccines, according to a news release.
"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" Hal Barron, MD, chief scientific officer and president of research and development at GSK, said in the release.
The transaction is expected to close in the third quarter of 2022.