Glaxo Wellcome Focuses On Genetics
UK pharmaceutical company Glaxo Wellcome is expanding its interest ingenetics with the establishment of a genetics directorate and the acquisition of a US genetics boutique.
GW has invested $9 million in acquiring Spectra Biomedical of the USA, which was founded in 1993 and focuses on association genetics. It said that the purchase recognizes the potential of Spectra's proprietary know-how and clinical data base in the rapidly-emerging field of association genetics, which has been pioneered by Stephen Peroutka, president and chief executive of Spectra.
The two firms have been working together in the search for the genetic base of migraine. Dr Peroutka and the firm's senior scientist, Keith Jones, are to join Glaxo Wellcome's R&D unit, and the remaining 15 staff at Spectra Biomedical are to be given severance compensation.
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