M&A Deal Summary

GSK Acquires Praecis Pharmaceuticals

On February 16, 2007, GSK acquired life science company Praecis Pharmaceuticals for 55M USD

Acquisition Highlights
  • This is GSK’s 7th transaction in the Life Science sector.
  • This is GSK’s 27th largest (disclosed) transaction.
  • This is GSK’s 6th transaction in the United States.
  • This is GSK’s 1st transaction in Maine.

M&A Deal Summary
Date 2007-02-16
Target Praecis Pharmaceuticals
Sector Life Science
Buyer(s) GSK
Deal Type Add-on Acquisition
Deal Value 55M USD

Target

Praecis Pharmaceuticals

Waltham, Maine, United States
Praecis Pharmaceuticals, Inc. is a biopharmaceutical company focused on utilizing its proprietary technologies for the discovery and development of novel compounds that have the potential to address unmet medical needs or improve existing therapies. PRAECIS has a novel MetAP-2 inhibitor, PPI-2458, in clinical development for cancer indications, including non-Hodgkin’s lymphoma and solid tumors, an innovative drug discovery technology, DirectSelect™, which enables the generation and practical use of ultra-large libraries for the discovery of orally active compounds for drug development, and a research and development program aimed at identifying one or more selective S1P-1 agonist compounds to advance into clinical testing.

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Buyer(S) 1

Buyer

GSK

Brentford, United Kingdom
Category Company
Founded 1715
Sector Life Science
Employees70,212
Revenue 30.3B GBP (2023)
DESCRIPTION
Entrance to a GlaxoSmithKline facility in Morristown, New Jersey.
Entrance to a GlaxoSmithKline facility in Morristown, New Jersey.

GSK is a multinational pharmaceutical, biologics, vaccines and consumer healthcare company. GSK was founded in 1715 and is based in Brentford, United Kingdom.

DEAL STATS #
Overall 8 of 32
Sector (Life Science) 7 of 26
Type (Add-on Acquisition) 6 of 24
State (Maine) 1 of 1
Country (United States) 6 of 19
Year (2007) 1 of 2
Size (of disclosed) 27 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-08 Domantis

Cambridge, United Kingdom

Domantis has pioneered the next generation of antibody therapy, which is based on the smallest functional binding units of human antibodies. These units, termed domain antibodies (dAbs), may be administered in inhaled, topical, and, potentially, oral formulations as well as by injection and infusion. The Domantis technology also enables dAbs to serve as building blocks for therapeutics simultaneously directed at more than one disease target.

Buy £230M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-19 Reliant Pharmaceuticals

Liberty Corner, New Jersey, United States

Reliant Pharmaceuticals, Inc. is a pharmaceutical company.

Buy $1.7B
Mergr

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