The Altius Institute for Biomedical Sciences will be based in Seattle, Washington and will support the UK drugmaker’s research efforts under a 10-year agreement that also grants it first rights to any technologies developed by researchers.
GSK said it expects to “capitalise on rapid progress in understanding gene control to select and validate better drug targets, and to accelerate many key aspects of developing new medicines.”
But despite the funding and collaboration agreement, Altius will be independent of GSK with its own management board. The institute plans to work with local academic groups to “pioneer translation of basic discovers and clinical advances.”
Hurrah for the pinstriped shirts?
News of the investment coincides with more rumours that GSK is being assessed as a takeover target by Big Pharma rivals.
This time J&J and Roche are rumoured to have approached GSK according to the Daily Mail.
The rumour – which the Mail attributes to dealer speculation - comes a few weeks after Deutsche Bank analyst Gregg Gilbert suggested Pfizer would benefit from buying GSK.