Market Overview

Vertex To Acquire Diabetes Treatment Company Semma Therapeutics For $950M

Vertex To Acquire Diabetes Treatment Company Semma Therapeutics For $950M

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) will acquire Semma Therapeutics, a privately held biotechnology company that uses of stem cell-derived human islets as a potentially curative treatment for type 1 diabetes, for $950 million in cash.

Semma has a differentiated approach to treat type 1 diabetes, which is a disease affecting over one million people in the U.S. alone.

“Semma has made two major scientific advances: the ability to produce large quantities of functional human pancreatic beta cells that restore insulin secretion and ameliorate hypoglycemia in animal models and a novel device that encapsulates and protects these cells from the immune system, enabling durable implantation without the need for ongoing immunosuppressive therapy,” Vertex said in a statement.

Vertex Pharmaceuticals shares were trading up 0.82% at $181.50 in Tuesday’s pre-market session. The stock has a 52-week high of $195.81 and a 52-week low of $151.80.

Related Links:

Valeritas Insulin Device For Diabetics Accepted Under Managed Formulary

Lexicon Shares Fall 47% On Termination Of License Agreement With Sanofi

Posted-In: Semma TherapeuticsBiotech M&A News General Best of Benzinga


Related Articles (VRTX)

View Comments and Join the Discussion!

Tuesday's Market Minute: And The US Dollar Remains King Of The Hill…

10 Biggest Price Target Changes For Tuesday