England-based GlaxoSmithKline (NYSE: GSK ) has acquired Switzerland-based biopharmaceutical firm Okairos, a specialist in developing proprietary technologies and genetic vaccines to treat infectious diseases including malaria, hepatitis C, HIV, and cancer, GlaxoSmithKline announced today.
The deal calls for GlaxoSmithKline to pay $325 million in cash for a 100% ownership stake of Okairos, including its platform technology utilizing viral vectors to stimulate immune responses, and a "small number of early stage assets," according to the company's press release.
The proprietary technology Okairos has developed is expected to complement existing Glaxo systems, and will play a key role in the development of new therapeutic vaccines for the treatment of diseases and infections. Christophe Weber, president GlaxoSmithKline Vaccines, expects the transaction will, "contribute to the development efforts for an exciting new generation of vaccines, building on the excellent science and expertise of both companies."
The management teams from GlaxoSmithKline and Okairos will work together to ensure a smooth transition, while maintaining Okairos' "autonomy, spirit and agility," GlaxoSmithKline said.