GlaxoSmithKline Increases Stake in Response Genetics, Inc.
Published: Sep 13, 2012
GlaxoSmithKline PLC (GSK.LN), the pharmaceutical company, announced Thursday that it bought five million newly issued shares of Response Genetics, Inc. (RGDX) 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.