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GSK pays $2.5 million to take part in IPO of Proteologics
April 2010
SHARING OPTIONS:

REHOVOT, Israel—GlaxoSmithKline PLC will pay $2.5 million to take part in the initial public offering of Proteologics, an Israeli start-up that is half-owned by Teva Pharmaceuticals. GSK will now have 7 percent of Proteologics' shares and will collaborate with the company on six research and development programs over the next three years. Proteologics is a biopharmaceutical company that discovers and develops drugs exploiting the body's ubiquitin system, which controls the breakdown of proteins in the body and allows their reuse.

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