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GlaxoSmithKline spins off Affymax; unit raises $51mm
Oct 2001
Executive Summary
GlaxoSmithKline has spun off its Affymax Research Institute drug discovery unit to Patricof & Co. and a group of investors including MPM Capital, Apax Partners, and Sprout Group. The venture capitalists put a total of $51mm into Affymax for a 51% combined ownership.
Deal Industry
-
Biotechnology
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Drug Discovery Tools
- Bioinformatics
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Drug Discovery Tools
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Private Placement
- Spin-Off
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GlaxoSmithKline spins off Affymax; unit raises $51mm
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