GSK has completed the acquisition of Aiolos Bio, a company working on treatments for respiratory and inflammatory conditions, the pharmaceutical giant announced today.
The London and New York listed company will pay $1bn (£797m) upfront for Aiolos and could pay up to $400m (£319m) more if its medicine hits certain regulatory goals.
As part of the deal, first announced last month, GSK now owns AIO-001, a medicine in the late testing phase for adults with asthma. The drug might only need to be given every six months, changing how asthma is currently treated.
AIO-001 works by targeting a protein called TSLP, which causes inflammation in asthma.
Chinese pharmaceutical firm Jiangsu Hengrui, which was involved in the development of AIO-001, will also receive milestone payments and tiered royalties from GSK.
GSK chief scientific officer, Tony Wood, said: “Given the limited treatment options for asthma patients with low T2 inflammation, we look forward to using our deep respiratory expertise to potentially offer a long-acting biologic to a broader portion of the 315 million patients living with asthma.”
It is the latest in a string of successes for GSK, as it has received a fast track designation from the US for its chronic hepatitis b drug and made a potential breakthrough with its cancer treatment.
GSK has become a pure-play vaccine and healthtech since spinning out its consumer healthcare division, now known as Haleon,
The move, which was contested by activists, has largely been seen as a success and strengthened the position of GSK CEO Dame Emma Walmsley.