ViaCyte Acquisition Can Accelerate Vertex's Ongoing Type 1 Diabetes Programs - Vertex Pharmaceuticals (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated VRTX has agreed to acquire ViaCyte, a privately held biotechnology, for $320 million in cash.
ViaCyte is focused on delivering stem cell-derived cell replacement therapies as a functional cure for type 1 diabetes (T1D).
Vertex's VX-880 is an investigational allogeneic stem cell-derived, fully differentiated, insulin-producing islet cell therapy for T1D.
Related: FDA Lifts Clinical Hold On Vertex Pharma's Stem Cell-Derived Diabetes Treatment Trial.
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 manufacturing facilities for cell-based therapies.
The acquisition also provides access to novel hypoimmune stem cell assets via the ViaCyte collaboration with CRISPR Therapeutics.
Price Action: VRTX shares are down 0.30% at $295.18 during the market session on the last check Monday.