GSK buys Canadian biopharmaceutical firm 35Pharma for $950 million
GSK PLC on Wednesday said it has agreed to buy Canada-based clinical stage biopharmaceutical firm 35Pharma Inc for $950 million in cash.
The London-based pharmaceuticals company said 35Pharma specialises in the development of novel protein-based therapeutics.
The acquisition includes HS235, a ‘potential best-in-class investigational medicine’ that has completed phase one clinical trials, with studies set to start soon in pulmonary arterial hypertension and pulmonary hypertension due to heart failure with preserved ejection fraction.
Pulmonary hypertension is a life-shortening disease marked by high blood pressure in the lungs.
‘By potentially lowering the risk of bleeding, HS235 may address a key limitation in current PH treatment, particularly as a significant proportion of patients require concomitant anticoagulant or antiplatelet therapy,’ GSK noted.
The $950 million transaction is subject to customary conditions including regulatory agency clearances in the US and Canada.
‘We’re delighted to add HS235 to our pipeline, a potential best-in-class medicine with a differentiated profile to reduce risk of bleeding and provide potential metabolic benefits clinically relevant to PH patients,’ said GSK Chief Scientific Officer Tony Wood.
‘HS235’s potential protective effects on vascular function, alongside potential benefits on fat-derived markers of metabolism and inflammation, also offer new development opportunities within our [Respiratory, Immunology & Inflammation] portfolio to achieve broader coverage across the metabolic, inflammatory, vascular and fibrotic drivers of multiple chronic diseases that affect the lung, liver and kidney.’
Shares in GSK were up 0.2% at 2,206.00 pence on Wednesday morning in London.
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