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Under the deal, Domantis, which specializes in monoclonal antibodies, will become part of Glaxo's biopharmaceuticals centre of excellence while continuing to operate from its laboratories in Cambridge. Europe's largest drugmaker reported that it would acquire the closely held antibody therapy developer, Domantis Ltd. in a cash transaction valued at 230 million pounds or $454 million.

Pursuant to the deal, Domantis will be integrated into Glaxo's Stevenage, England- based biopharmaceutical drug discovery center. GlaxoSmithKline will further expand its biopharmaceuticals portfolio with acquisition of pioneering antibody technology. The company revealed that Domantis has pioneered the extension of antibody therapies to potentially far wider applications than has been possible with conventional monoclonal antibodies.

Domantis' current research programmes include antibody therapies for rheumatoid arthritis, asthma, chronic obstructive pulmonary disease, and multiple myeloma. The agreement would allow Domantis to embed its Research Development organization intact with GlaxoSmithKline's to fully exploit the potential therapeutic applications of its technology. Laboratory-engineered versions of the antibodies found in the natural immune system, or monoclonal antibodies as they are called, can bind with exquisite precision to targets in the body.

Their therapeutic applications have been constrained by their large molecular size. Currently marketed therapeutic antibodies have to be administered by injection or infusion. Domantis, since 2000, has pioneered the next generation of antibody therapy, which is based on the smallest functional binding units of human antibodies.

The aim was to build a world-class R D team capable of producing a wide range of dAb products that would have a major impact in medicine. Domantis is now focused on developing the next generation of antibody molecules called human domain antibodies that are small enough to be administered in inhaled, topical and potentially oral forms. These units, termed domain antibodies ( | | | ), may be administered in inhaled, topical, and, potentially, oral formulations as well as by injection and infusion.

The Domantis technology also enables dAbs to serve as building blocks for therapeutics simultaneously directed at more than one disease target. Commenting on the deal, Dr Tomlinson, Chief Scientific Officer at Domantis, said "The acquisition of Domantis by GSK highlights the tremendous potential and value of dAbs and provides the funding and capabilities to advance a large number of dAb products through clinical testing. Combining the core protein-engineering capabilities, technology, and intellectual property of Domantis with the basic science and clinical and commercial strength of GSK creates an opportunity to advance biopharmaceuticals on a global scale.

" Domantis also stated that Sir Gregory, who has been a member of the Board of Directors and Chairman of the Scientific Advisory Board at Domantis, is the Deputy Director of both the MRC-LMB and the MRC Centre of Protein Engineering. Dr Tomlinson will continue to manage the Cambridge laboratories of Domantis while serving as a GSK executive in the Biopharmaceuticals CEDD reporting to Dr Owen. In a separate statement, Peptech Limited, an Australian biopharmaceutical company that held 31.

02% of Domantis' shares, said its share of the sale to GlaxoSmithKline is 71.5 million pounds, and it has realized a gain of A$138.2 million on the sale.

Yesterday, GlaxoSmithKline reported that it had expanded its patient assistance programs, offering its retail prescription medicines for free to eligible low-income Medicare Part D participants. From January 1, 2007, the company's new patient assistance program GSK Access would provide free medicines to eligible Part-D-enrolled senior and disabled patients who have spent at least $600 of their own money on outpatient medicines. The pharmaceutical company also plans to offer its existing patient assistance program for oncology medicines to Medicare Part D participants who reach the same $600 spending threshold.

Oncology patients who are enrolled in Part D plans will be able to receive their medicines through GSK's existing Commitment to Access patient assistance program by meeting a certain criteria. GlaxoSmithKline also provides outpatient medications through its Bridges to Access, Commitment to Access programmes and Together Rx Access. Shares of GSK closed Thursday regular trading session at $52.

55 at the New York Stock Exchange on a volume of 1,490,390 shares. In the past year, the stock has traded between $49.75 and $58.

40.