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Vertex Pharmaceuticals Shelled Out $950 Million On Semma Therapeutics

Diabetes is reported to be one of the most common diseases that is affecting millions across the globe. The company Vertex Pharmaceuticals has recently decided on shifting its focus to diabetes for its specialization in cystic fibrosis. The firm has recently decided to acquire Semma Therapeutics and its stem cell-based diabetes therapies for $950 Million. The deal is expected to close by the fourth quarter in an all-cash deal. Semma has been working on the cure for Type 1 diabetes for past few years. They planned on switching undifferentiated pluripotent stem cells into insulin-producing pancreatic beta cells for further transplantation into patients.

The previous year, the company had partnered with Novartis with a $44 Million series A. Before that, it had even hired Bastiano Sanna and also raised about $114 Million series B round. Vertex has now decided to bet on the bigger treatments that could help replace the usual injections and chronic care that is practiced by the Type 1 diabetes patients. The current acquisition is expected to open doors for transformative medicines that can help treat people with serious diseases. The combination of cell and device to treat type 1 diabetes can help produce insulin and also to protect the injected cells.

Likewise, in June, Vertex had decided to straight away shell out $420 Million to research more on muscular dystrophy. It also raised $175 Million to accomplish its deal with CRISPR Therapeutics and, on the other hand, Exonics along with its gene-editing pipeline was bought at $245 Million. The company decided to acquire the gene-editing deal with Arbor Biotechnologies in January plus bought Kymera Therapeutics for $70 Million upfront but it, in turn, was profited with more than $1 Billion. Thus, the biotech companies seem to acquire more and more of pharmaceutical companies in order to have some of the best treatments for diabetes and other diseases out in the next few years.

Demetrius Lucero
Managing Editor At Carib World News

While Demetrius holds a Bachelor’s Degree in Business Administrations, he has a deep understanding of the business world. With a huge 6 years of experience in this realm, Demetrius has gained profound knowledge and proficiency in writing news on various key topics in the domain including acquisitions & mergers, product launches, market trends, trading, and so on. With his exceptional leadership qualities, he carries out all the duties as the Head of the Business Department very tactfully. In any critical situation, his patience and decision-making abilities show the Carib World News’s Business-section team a ray of hope to come out of it efficiently.

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