Switzerland-based vaccine developer GlycoVaxyn has been acquired by pharmaceutical company GlaxoSmithKline (GSK) for $212m.
GSK and GlycoVaxyn previously signed an agreement to research anti-bacterial vaccines in 2012 in a deal which also had GSK make an equity investment of undisclosed size in GlycoVaxyn.
GlycoVaxyn raised $22m in a 2009 series B round led by Edmond de Rothschild Investment Partners while Sofinnova Partners and Index Ventures also participated. The company secured $9.3m in a 2007 series A round backed by Sofinnova and Index. In 2006, Index and Sofinnova invested in a $817,000 seed round.
The company, a spin-out of ETH Zürich, has developed a drug development platform which produces anti-bacterial vaccines without the challenges and uncertainties associated with chemical methods.
GlycoVaxyn’s vaccine against E. coli infections is currently in a phase 1 clinical trial. The company’s vaccine against shigellosis, a form of severe diarrhoea, is set to enter a phase 1 clinical trial within the next few weeks.
GSK has committed to integrating GlycoVaxyn in a way which will guarantee the spin-out’s autonomy and agility.