The corporate owned a 15% stake in immunotherapy developer Lyell, which recently raised $493m, with a fair value of $203m as of the end of 2019.

Pharmaceutical firm GlaxoSmithKline (GSK) has disclosed a significant investment in US-based immunotherapy developer Lyell Immunopharma, which disclosed $493m in series C funding in a securities filing earlier this month.

The corporate’s participation was disclosed in its annual report, which stated that it had spent £258m ($320m at current exchange rates) on equity investments during 2019, “primarily relating to Lyell Immunopharma”.

The annual report stated that GSK owned a 15% stake in Lyell with a fair value of approximately…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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