Grifols has agreed to buy the remaining 56% of antibody drug developer GigaGen having invested $35m four years ago.

Pharmaceutical firm Grifols completed the acquisition of one of its portfolio companies, US-based antibody drug developer GigaGen, for $80m yesterday.

Founded in 2010, GigaGen is developing antibody drug treatments for immune deficiency, infectious diseases and cancers. Its technology platform is based on antibodies acquired from millions of immune system cells supplied by donors.

The company’s lead product candidate, GIGA-2050, is an antibody treatment for covid-19 that is expected to undergo a phase 1 trial later this year.

Grifols paid $35m…