GSK strikes £50m deal with Oxford University on cancer vaccines; dollar rises after Trump U-turn on Colombia tariffs – business live
GSK strikes £50m deal with Oxford University on cancer vaccines; dollar rises after Trump U-turn on Colombia tariffs – business live
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Shares in WHSmith jumped as much as 8% after it put its 500 UK high street stores up for sale. The surprise move to hoist the “for sale” sign over its over its legacy retail business creates uncertainty for its 5,000 staff, but was welcomed by investors.
The 232-year-old chain is in talks with a handful of potential bidders, having kicked off the prospective sale process at the end of last year. While negotiations are focused on its 500 shops – which sell newspapers, books, stationery, cards and gifts – it is understood that the use of the brand itself will be up for negotiation with any prospective buyer.
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Britain’s second-biggest drugmaker GSK has struck a deal with the University of Oxford under which it will pump up to £50m into early cancer research to develop new treatments.
The partnership lasts at least three years, and will focus on how cancer develops that could inform future development of cancer vaccines. Most cancers take years or even decades to develop from normal cells to precancerous cells to cancer. Oxford University specialises in the study of precancer biology including the identification and sequencing of neoantigens, or tumour-specific proteins that prompt the immune system to recognise cancer. An active intervention like a vaccine or targeted medicine could prevent them from progressing to cancer.
