Grifols acquires stake in VCN Biosciences
12 July 2012 11:35 in Pharmaceutical Company Product News
Grifols has acquired a 40 percent equity share in VCN Biosciences, a firm involved in the research and development of new therapeutic approaches for tumours.
The Spanish company completed the acquisition through its investment vehicle Gri-Cel SA, which was created to boost the firm's participation in research and development activities that lie outside its main projects.
In a statement, Grifols explained: "This latest investment is part of the group's commitment to promoting innovative technologies that provide responses to unresolved medical problems."
Founded in 2009, VCN Biosciences is currently working on a treatment for pancreatic cancer that is due to enter the clinical phase next year.
It also has exclusive rights to two patent licences for independent technologies developed by the viral therapy group of the Catalan Oncology Institute.
According to the statement from Grifols, the company plans to relocate from its current offices at the Biopol complex in L'Hospitalet de Llobregat to Grifols' base in Sant Cugat del Valles.
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Story collated for Zenopa by the Adfero News Agency