GSK: to transfer rare disease portfolio to Orchard
(CercleFinance.com) - GlaxoSmithKline will transfer its portfolio of rare disease gene therapies to Orchard, the British drugmaker said on Thursday.
Under the terms of the agreement, GSK will take a 19.9% equity stake in Orchard, which has specialised in clinical-stage gene therapy for rare diseases, in addition to a seat on the company's board of directors.
The agreement follows GSK's strategic review of its rare disease unit, announced in July 2017, as part of the Group's ongoing prioritisation of its pharmaceuticals pipeline, which includes oncology and immuno-inflammation.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Under the terms of the agreement, GSK will take a 19.9% equity stake in Orchard, which has specialised in clinical-stage gene therapy for rare diseases, in addition to a seat on the company's board of directors.
The agreement follows GSK's strategic review of its rare disease unit, announced in July 2017, as part of the Group's ongoing prioritisation of its pharmaceuticals pipeline, which includes oncology and immuno-inflammation.
Copyright (c) 2018 CercleFinance.com. All rights reserved.