Following similar moves by many of its Big Pharma peers, GlaxoSmithKline PLC is buying into large molecules, big time. In December 2006, it paid £230mm ($454 million) in cash for next-generation antibody specialist Domantis Ltd.[See Deal] Later that month, the pharmaceutical firm committed over $2 billion in up-fronts, milestones, and equity for Genmab AS ' HuMax-CD20 (ofatumumab) fully human monoclonal antibody, plus other anti-CD20 antibodies that GenMab may develop. [See Deal](See "Genmab/GSK: An Impressive Display of Biotech’s Increased Leverage," IN VIVO, January 2007 Also see "Genmab/GSK: An Impressive Display of Biotech's Increased Leverage" - In Vivo, 1 January, 2007..)
GlaxoSmithKline Breaks Out of Its Small-Molecule Mind-Set
Following similar moves by many of its Big Pharma peers, GSK is buying into large molecules, big time. In December 2006, it paid $454 million in cash for next-generation antibody specialist Domantis. Later that month, the pharmaceutical firm committed over $2 billion in up-fronts, milestones, and equity for an antibody program from Genmab AS. For investors in privately held Domantis, whose most advanced drug candidate is preclinical, the acquisition was a much earlier than-anticipated exit.