Vertex continues shopping, spending $20M upfront to access Ribometrix's RNA-drugging platform
Vertex, flush with $4 billion in cash and cash equivalents (as of June 30), has been on the prowl to park its excess capital in places with potential. Its latest injection is in Durham, North Carolina-based Ribometrix — a startup working on targeting RNA with small molecule drugs.
Created by Kevin Weeks, a chemist at the University of North Carolina at Chapel Hill, and his former undergraduate student Katie Warner — the company is part of a slate of drug developers such as Skyhawk Therapeutics, Arrakis and Expansion Therapeutics, as well as Novartis $NVS and Merck $MRK who have similar lofty ambitions.
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