Grifols: to invest 35 million dollars in US biotech firm.
(CercleFinance.com) - Spain's Grifols has agreed to buy a 44 percent stake in San Francisco-based biotech company GigaGen, for 35 million dollars, in a move to strengthen its R&D portfolio.
Grifols's innovation unit GIANT has also entered into a research and collaboration agreement with GigaGen, in exchange for a collaboration fee of 15 million dollars.
Under the terms of the agreement, GigaGen will carry out research activities to develop recombinant polyclonal immunoglobulin therapies derived from human B cells for the treatment of human diseases.
GigaGen's technology captures immune repertoires and uses them as novel biotherapeutics.
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