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GSK: completes acquisition of Affinivax

( - GSK today announced that it has completed the acquisition of Affinivax, a Cambridge, Massachusetts-based biopharmaceutical company that is pioneering the development of a new class of vaccines, including next-generation pneumococcal vaccines.

The acquisition of Affinivax is part of GSK's strategy to build a strong portfolio of specialty medicines and vaccines.

It includes a next-generation 24-valent pneumococcal vaccine candidate (AFX3772), currently in Phase II development. GSK adds that a 30-plus valent pneumococcal vaccine candidate is also in preclinical development.

Under the terms of the agreement, GSK acquired 100% of Affinivax's outstanding shares. The acquisition included an upfront payment of 2.1 billion dollars, paid at closing and two potential milestone payments of 0.6 billion dollars, to be paid upon the achievement of certain paediatric clinical development milestones.

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