Ab­b­Vie re­cruits a GPCR team in Ox­ford, buy­ing out a fledg­ling biotech for $255M+

Less than 2 years af­ter some Ox­ford grads pieced to­geth­er a lit­tle £6 mil­lion seed fund to launch their dis­cov­ery out­fit, the an­ti­body de­vel­op­er has been scooped up by one of the phar­ma gi­ants scout­ing the bar­gain aisle of ear­ly-stage drug de­vel­op­ment.

And the founders did con­sid­er­ably bet­ter than the seed round might sug­gest.

Ab­b­Vie is swoop­ing in for the buy­out with $255 mil­lion in cash for DJS An­ti­bod­ies, plus some un­spec­i­fied mile­stones that could range quite high, giv­en the pre­clin­i­cal na­ture of the GPCR work in­volved.

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