Grifols acquires 56% of the US company GigaGen for 67 million. The firm will now fully control this company specializing in the early discovery and development of recombinant biotherapeutic drugs.
Grifols has acquired 56% of the American company GigaGen for 80 million dollars, about 67.36 million euros at the current exchange rate, thus achieving 100% of the capital of this company.
Grifols, which entered the capital of the United States in 2017, will now fully control this company specialized in the discovery and early development of recombinant biotherapeutic drugs, the Catalan multinational of blood products has informed the CNMV, the Spanish stock market supervisor.
GigaGen has received approval from the US health authority, the FDA, for its application as an Investigational New Drug (IND) for its recombinant polyclonal anti-SARS-CoV-2 immunoglobulin.
GIGA-2050 is the name of its recombinant hyperimmune immunoglobulin for the treatment of covid-19, which it hopes can be evaluated in a phase 1 trial in the United States in the spring of 2021, after the recent approval of its application by part of the FDA.
The trial, the first in humans to evaluate recombinant hyperimmune immunoglobulins, aims to evaluate the safety and tolerability of a dose of GIGA-2050 in up to 18 hospitalized patients diagnosed with COVID-19.
GIGA-2050 includes more than 12,000 coronavirus antibodies obtained from 16 convalescent patients who have shown an exceptional response to COVID-19.
The information obtained from this trial will also be used to demonstrate the safety of GigaGen’s technology platform for manufacturing infectious disease-specific recombinant polyclonal immunoglobulins so that they can be rapidly developed for the treatment of emerging pathogens.
In this way, Grifols reinforces its innovation strategy to guarantee its long-term growth, as it did recently when taking control of Alkahest.