GSK bets hungry spinouts can upstage fat pharma

A group of 14 researchers at GlaxoSmithKline recently left the pharma giant with an unusual severance package. They decamped with the patents on their work related to pain relief and used the IP foundation to start building a new biotech company, with GSK as a minority partner. "Big pharma is looking at productivity," Clive Dix, who helms the startup dubbed Convergence, tells the Financial Times. "It sees smaller companies as more fleet of foot. We are more focused and will be very hungry because the only thing we think about is these drugs." Report