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Mergers & Acquisitions

Vertex acquires diabetes stem cell company

by Ryan Cross
September 6, 2019 | APPEARED IN VOLUME 97, ISSUE 35

 

Vertex Pharmaceuticals is moving beyond its cystic fibrosis small-molecule franchise. The company is purchasing the Cambridge, Massachusetts–based start-up Semma Therapeutics, which is designing stem cell therapies for type 1 diabetes, for $950 million in cash. Semma has a method for turning stem cells into insulin-secreting β cells, which it licensed from Harvard University’s Douglas Melton. The company plans to start clinical trials of its β cell injections next year.

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