GlaxoSmithKline to acquire Domantis Ltd for $454million

GlaxoSmithKline plc (GSK) today announced that it has entered into an agreement to acquire Domantis Ltd for US$454million in cash.

Domantis, a privately owned company, was started in 2000 by the Medical Research Council and MVM Ltd.

The price is one of the highest ever paid for a private biotechnology company.

The acquisition agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to complete in January 2007.

Dr. Stephen Reeders, MVM managing partner and Domantis board member said: “We recognised that Sir Greg Winter and Dr. Ian Tomlinson were the worldwide leaders in antibody engineering.”

“We were also very fortunate in finding Bob Connelly to be CEO. He and Ian have done an outstanding job in building technology and commercial value in the company.”

Domantis Limited

Domantis Limited
Drug discovery platform

Website
www.gsk.com

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