Vertex nabs ViaCyte's rival diabetes stem cell treatment, acquiring the biotech for $320M in cash
Less than a week after the FDA lifted a hold on Vertex’s stem cell therapy for type 1 diabetes, the Boston company is buying out a rival in an all-cash deal.
Vertex announced Monday morning it would acquire private biotech ViaCyte for $320 million in cash, a move the company says is aimed at boosting development of its stem cell therapy, VX-880. In addition to nabbing ViaCyte’s drug candidates, Vertex will acquire the biotech’s human stem cell lines, manufacturing facilities and other relevant intellectual property.
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