In a financing investment, GlaxoSmithKline, a top big pharma company announced that it bought five million newly issued shares of Response Genetics at 1.10 dollars per share in cash, meaning that GSK now owns 15.2% of the expanded share capital of RGI.
Transaction builds on the relationship GSK and RGI have been building in the diagnostics field of oncology and vaccines.
RGI performs companion diagnostic tests and other related activities for GSK’s immunotherapies and oncology pipeline candidates.
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