M&A Deal Summary

GSK Acquires Sierra Oncology

On April 13, 2022, GSK acquired healthcare services company Sierra Oncology from Vivo Capital for 1.9B GBP

Acquisition Highlights
  • This is GSK’s 2nd transaction in the Healthcare Services sector.
  • This is GSK’s 4th largest (disclosed) transaction.
  • This is GSK’s 16th transaction in the United States.
  • This is GSK’s 4th transaction in California.

M&A Deal Summary
Date 2022-04-13
Target Sierra Oncology
Sector Healthcare Services
Buyer(s) GSK
Sellers(s) Vivo Capital
Deal Type Add-on Acquisition
Deal Value 1.9B GBP
Advisor(s) Lazard Ltd. (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Sierra Oncology

San Mateo, California, United States
Sierra Oncology is a late-stage biopharmaceutical company based in San Mateo, California, on a mission to deliver targeted therapies that treat rare forms of cancer. Sierra Oncology was formed in 2003 and is based in San Mateo, California.

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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 28 of 32
Sector (Healthcare Services) 2 of 2
Type (Add-on Acquisition) 20 of 24
State (California) 4 of 6
Country (United States) 16 of 19
Year (2022) 1 of 2
Size (of disclosed) 4 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-11 GSK - Cephalosporin Antibiotics Business

Brentford, United Kingdom

GSK's Cephalosporin Antibiotics Business is a provider of antibiotics used to treat a range of bacterial infections.

Sell $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-31 Affinivax

Cambridge, Massachusetts, United States

Affinivax is a clinical stage biopharmaceutical company pioneering the development of a novel class of vaccines, using its patented biotin-rhizavidin binding approach to optimize the body’s protective immune response to address infectious and other immune-mediated diseases. Affinivax is based in Cambridge, Massachusetts.

Buy $2.1B

Seller(S) 1

SELLER

Vivo Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1996
PE ASSETS 6.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Vivo Capital is a healthcare investment firm focused on opportunities throughout the US and China. Specific areas of interest include biopharmaceuticals, specialty pharmaceuticals, and medical devices. The Firm looks to identify and work with companies at the development and commercial stage products in the US and at the revenue stage in China. Vivo Capital was established in 1997 and is headquartered in Palo Alto, California.

DEAL STATS #
Overall 14 of 14
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (California) 7 of 7
Country (United States) 12 of 12
Year (2022) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-05 IO Biotech

Copenhagen, Denmark

IO Biotech is a clinical stage biotech company developing disruptive immune therapies for the treatment of cancer. IO Biotech's pipeline of first-in-class immune modulating anti-cancer therapies is based on a unique platform technology enabling the activation of T cells that are specific for immune inhibitory molecules. IO Biotech was founded in 2014 and is based in Copenhagen, Denmark.

Sell -
Mergr

Product

Company

Legal