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GlaxoSmithKline acquires 10% stake in German biotech company CureVac
Category: #headline  By Akshay Kedari  Date: 2020-07-21
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GlaxoSmithKline acquires 10% stake in German biotech company CureVac

British pharmaceutical major, GlaxoSmithKline, has reportedly announced that it has acquired a 10 per cent stake in German biotech major, CureVac, a prominent player in the global race for COVID-19 vaccine. GSK has stated that the transaction involves a value of £130 million in addition to a separate payment of £104 million intended for research into CureVac’s development activities regarding mRNA vaccines.

According to the President at GSK Vaccines, Roger Connor, the company’s self-amplifying mRNA vaccine technology has effectively demonstrated that mRNA technology has great potential to accelerate the science of vaccine development. He has also stated that CureVac’s experience is complementary to the company’s own expertise and, through the application of mRNA technology, GSK is optimistic about the development of advanced vaccines and therapies for the quick treatment and prevention of infectious diseases.

The deal does not imply a direct partnership between the scientists at GSK and CureVac on a vaccine for COVID-19 or any separate initiative by the German company on rabies. The agreement, however, signifies that GSK would benefit if investor interest in coronavirus treatments results in a respective increase in the valuation of CureVac.

Reliable sources state that CureVac has gained funding from the Bill and Melinda Gates Foundation and was reportedly offered large sums of money by officials from the Trump administration against the grant of exclusive US access to any of the vaccines.

As reported, GSK has advocated that mRNA-based vaccine and treatment technologies could play a crucial role in the improvement of response against future pandemics. CureVac’s technology makes use of mRNA to instruct the human body for the production of its own proteins to combat diseases. As per sources, GSK will make a payment of up to £277 million to CureVac, provided it hits regulatory and development targets, in addition to another £329 million if it realizes commercial milestones and royalties on any product sales.

 

Source Credits:

https://www.theguardian.com/business/2020/jul/20/gsk-stake-coronavirus-vaccine-curevac

About Author

Akshay Kedari    

Akshay Kedari

Akshay holds a Bachelor’s degree in computer engineering. Despite having a penchant for software development and the like, Akshay took to writing as a career owing to his passion for the field. Presently, Akshay writes articles for itresearchbrief.com and a few oth...

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