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GlaxoSmithKline spins off Affymax; unit raises $51mm

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
    • Drug Discovery Tools
      • Bioinformatics
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Spin-Off

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