Glaxo Inks Genome Research Deal With University Of California
Zacks Investment Research | Jun 13, 2019 09:00PM ET
GlaxoSmithKline plc (NYSE:GSK) announced that it has entered into a five-year collaboration agreement with the University of California to establish a state-of-the-art laboratory for discovering medicines, using the popular CRISPR technologies.
The laboratory, to be called the Laboratory for Genomics Research (LGR), has been built for funding scientists to research on how genetic mutations cause disease and develop new medicines for the same with the help of CRISPR tech tools.
Per the deal, Glaxo will provide $67 million for funding the LGR over the stipulated five-year period including facilities for 24 full-time university employees plus up to 14 full-time Glaxo employees. The LGR will be based in San Francisco and focus on developing novel therapies in the field of immunology, oncology and neuroscience. Moreover, Glaxo’s artificial intelligence and machine learning team will assist in building the necessary computational pipelines to analyze all the data.
Shares of Glaxo have gained 5% so far this year, outperforming the Zacks Investment Research
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