GlaxoSmithKline (GSK) has entered an agreement to acquire Domantis Ltd., an antibody therapy developer, for $451 million in cash. The acquisition expands GSK’s biopharmaceuticals portfolio of antibody technology.

Domantis, a privately-held British company, will become part of GSK’s Biopharmaceuticals Centre of Excellence for Drug Discovery (CEDD) but will continue to operate from its labs in Cambridge. Domantis’ current research programs include antibody therapies for rheumatoid arthritis and asthma. The acquisition is expected to complete in January.

“Domantis has pioneered the extension of antibody therapies to potentially far wider applications than has been possible with conventional monoclonal antibodies,” said Mike Owen, senior vice president, Biopharmaceuticals CEDD, GSK. “Its talent and world-leading technology will complement the work we are already taking forward in the CEDD to put GSK at the forefront of biotechnology.”

Robert Connelly, Domantis founding chief executive officer, said, “The agreement with GSK allows us to embed our R&D organization intact within a company committed to fully exploiting the potential therapeutic applications of our technology. I am delighted that GSK has made this major investment in our technology, our people, and our product pipeline.”