Vertex Pharma To Acquire ViaCyte For $320 Mln In Cash

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) announced Monday that the company has entered into a definitive agreement under which Vertex will acquire privately-held biotechnology company ViaCyte for $320 million in cash.

ViaCyte is focused on delivering novel stem cell-derived cell replacement therapies as a functional cure for type 1 diabetes (T1D). The acquisition of ViaCyte provides Vertex with complementary assets, capabilities and technologies including additional human stem cell lines, intellectual property around stem cell differentiation, and Good Manufacturing Practice (GMP) manufacturing facilities for cell-based therapies that could accelerate Vertex's ongoing T1D programs.

The acquisition also provides access to novel hypoimmune stem cell assets via the ViaCyte collaboration with CRISPR Therapeutics.

Vertex anticipates the acquisition will close later this year, subject to certain customary conditions being met.