GSK completes purchase of Canada's 35Pharma for $950 million
GSK PLC on Wednesday said it has completed the acquisition of 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 molecule for the treatment of pulmonary hypertension’, with proof-of concept trials expected to start imminently in two forms of the illness..
Pulmonary hypertension is a life-shortening disease marked by high blood pressure in the lungs.
The transaction was first announced in February.
‘HS235 is an important addition to our [Respiratory, Immunology & Inflammation] pipeline, which continues to expand across inflammatory and fibrotic drivers underlying multiple chronic diseases,’ said Kaivan Khavandi, head of translation & development sciences at GSK.
‘With approximately 82 million patients currently living with [pulmonary hypertension] in its various forms, high burden of morbidity associated with the disease and poor associated prognosis, with low five-year survival rates, we are committed to advancing this novel, differentiated option to expand the limited treatments currently available.’
Shares in GSK were down 0.1% at 2,187.00 pence on Wednesday morning in London.
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