Glaxo in $720m deal for US enzyme research biotech

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*GlaxoSmithKline, the UK's biggest drug maker, is paying $720m for an early-stage US biotech company that promises to unlock the secrets of ageing. Sirtris Pharmaceuticals, based in Cambridge, Massachusetts, is working on sirtuins, a recently discovered type of enzyme linked to the ageing process, and believes that it will be able to develop drugs to combat diabetes and a string of neurodegenerative or inflammatory diseases. "Through the acquisition of Sirtris, GSK will significantly enhance its metabolic, neuro- logy, immunology and inflammation research efforts by establishing a presence in the field of sirtuins," it said last night. "Almost all diseases have as their basis the aging process, including cancer and heart disease," Sirtris chief executive Christoph Westphal said. GSK, whose CEO designate is Andrew Witty, pitched its offer for Sirtris at an 84 per cent premium to the share price before the announcement.

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