Business Wire

Vertex to Acquire ViaCyte, With the Goal of Accelerating its Potentially Curative VX-880 Programs in Type 1 Diabetes

Share

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the company has entered into a definitive agreement under which Vertex will acquire ViaCyte, a privately held biotechnology company focused on delivering novel stem cell-derived cell replacement therapies as a functional cure for type 1 diabetes (T1D), for $320 million in cash.

“VX-880 has successfully demonstrated clinical proof of concept in T1D, and the acquisition of ViaCyte will accelerate our goal of transforming, if not curing T1D by expanding our capabilities and bringing additional tools, technologies and assets to our current stem cell-based programs,” said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex.

Vertex’s VX-880, an investigational allogeneic stem cell-derived, fully differentiated, insulin-producing islet cell therapy for T1D, has already achieved proof-of-concept with highly promising safety and efficacy results from an ongoing Phase 1/2 study which continues to enroll and dose patients. 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 (GMP) manufacturing facilities for cell-based therapies that could accelerate Vertex’s ongoing T1D programs. The acquisition also provides access to novel hypoimmune stem cell assets via the ViaCyte collaboration with CRISPR Therapeutics.

“ViaCyte’s commitment to finding a functional cure for T1D is shared by Vertex, and this acquisition will allow Vertex to deploy ViaCyte’s tools, technologies and assets toward the development of Vertex’s multiple cell replacement therapy approaches designed to reduce the burden of millions of people living with T1D worldwide,” said Michael Yang, President and Chief Executive Officer of ViaCyte.

Transaction Terms
Under the terms of the acquisition, Vertex will acquire ViaCyte for $320 million in cash. Vertex anticipates the acquisition will close later this year, subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions.

About ViaCyte
ViaCyte is a private cellular therapy company with a clinical-stage stem cell platform that delivers therapeutic proteins to restore health in people. The company has significant clinical experience in patients with T1D; this includes a first-in-class gene-edited, immune-evasive investigational islet cell replacement therapy for diabetes that could potentially eliminate the need for exogenous insulin without requiring immunosuppression. ViaCyte has received support for its research from JDRF and the California Institute of Regenerative Medicine and has established collaborative partnerships with leading companies, including CRISPR Therapeutics, to advance its therapies for T1D.

About Vertex
Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. The company has multiple approved medicines that treat the underlying cause of cystic fibrosis (CF) — a rare, life-threatening genetic disease — and has several ongoing clinical and research programs in CF. Beyond CF, Vertex has a robust pipeline of investigational small molecule, cell and genetic therapies in other serious diseases where it has deep insight into causal human biology, including sickle cell disease, beta thalassemia, APOL1-mediated kidney disease, pain, type 1 diabetes, alpha-1 antitrypsin deficiency and Duchenne muscular dystrophy.

Founded in 1989 in Cambridge, Mass., Vertex's global headquarters is now located in Boston's Innovation District and its international headquarters is in London. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia and Latin America. Vertex is consistently recognized as one of the industry's top places to work, including 12 consecutive years on Science magazine's Top Employers list and one of the 2021 Seramount (formerly Working Mother Media) 100 Best Companies. For company updates and to learn more about Vertex's history of innovation, visit www.vrtx.com or follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.

Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements made by Dr. Kewalramani and Mr. Yang in this press release, and statements regarding: (i) the status, clinical progress, and expected therapeutic benefits of VX-880; (ii) the potential impact of VX-880 and Vertex’s other T1D programs, including the potential of the programs to transform or cure T1D; (iii) future activities and potential benefits of the acquisition, including the potential acceleration of VX-880 and Vertex’s other T1D programs, the expansion of capabilities and tools for use in Vertex’s stem cell-based programs, and the potential to reduce the burden of disease for people living with T1D worldwide; and (iv) the potential closing of the acquisition. While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company's beliefs only as of the date of this press release, and there are a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Those risks and uncertainties include, among other things, that the transaction is subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, that Vertex may not realize the potential benefits of the transaction, that data from a limited number of patients may not be indicative of final clinical trial results, and that data from the company's development programs, including the T1D programs, may not support registration or further development of its potential medicines in a timely manner, or at all, due to safety, efficacy, or other reasons, and other risks listed under the heading “Risk Factors” in Vertex's annual report filed with the Securities and Exchange Commission and available through the company's website at www.vrtx.com and on the SEC’s website at www.sec.gov. You should not place undue reliance on these statements. Vertex disclaims any obligation to update the information contained in this press release as new information becomes available.

(VRTX-GEN)

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Vertex Pharmaceuticals Incorporated
Investors:
Manisha Pai, +1 617-961-1899

Media:
mediainfo@vrtx.com
or
U.S.: +1 617-341-6992
or
Heather Nichols: +1 617-839-3607
or
International: +44 20 3204 5275

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Adtran and GLDS integrate Mosaic CP with BroadHub ® for enhanced broadband service billing and management3.5.2024 14:00:00 CEST | Press release

Adtran today announced that GLDS’s customer management and billing platform, BroadHub®, is now integrated with Adtran’s Mosaic CP and its SDX Series of optical line terminals (OLTs). Building on a longstanding partnership, the collaboration enhances automated service management by enabling instantaneous adjustments to network conditions and rapid responses to customer demands. It promises to boost service capabilities and operational efficiencies for service providers globally, offering advanced scalability for growing networks and real-time data analytics for improved service management. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240503338277/en/ Adtran’s partnership with GLDS is helping service providers simplify customer management and streamline billing processes. (Photo: Business Wire) “Our strategic partnership with Adtran is driven by a shared commitment to empowering service providers with robust customer managem

Sampled Named One of the First Olink ® Certified Service Providers3.5.2024 13:59:00 CEST | Press release

Sampled1 today announced that it has been named one of the first Olink®Certified Service Providers Olink’s state-of-the-art proteomics technology enables understanding of complex biological pathways and disease markers. Proteomics technology is an important tool for studying diseases, providing crucial insights into their underlying molecular mechanisms. The consistent and highly accurate results produced by Olink's Proximity Extension Assay (PEA) technology have made it widely recognized and extensively cited in various research fields for protein profiling and biomarker development. Olink® Certified Service Providers are recognized for their commitment to delivering the highest quality standards, undergoing rigorous training and annual certification using concordance samples. “We are proud to be one of the first Olink®Certified Service Providers and believe it highlights our dedication to pioneering health innovations. With this technology we can empower our clients with cutting-edge

KLDiscovery Takes Steps to Strengthen Balance Sheet and Long-Term Financial Foundation2.5.2024 22:30:00 CEST | Press release

KLDiscovery Inc. (“KLDiscovery” or the “Company”), a global leader in data management, information governance, eDiscovery, and advisory services solutions, today announced that it has reached an agreement in principle with its principal convertible debenture holders and its principal term loan lender to significantly reduce the Company’s long-term debt and strengthen its financial position, enabling KLDiscovery to focus on its growth model and drive investment in its market-leading client solutions. “Today’s announcement marks an important step forward for our company as we move into the future with a capital structure that supports our industry-leading team and long-term growth and profitability objectives,” said Chris Weiler, Chief Executive Officer of KLDiscovery. “KLDiscovery is a strong business with a leading market position, premier brands, and a clear vision for the future. This agreement underscores our key capital partners’ belief in that vision and will provide our company w

SES AI Reports First Quarter 2024 Earnings Results; Affirms 2024 Outlook2.5.2024 22:15:00 CEST | Press release

SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in the development and manufacturing of high-performance Li-Metal batteries, today announced its first quarter 2024 business results for the period ended March 31, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240502964429/en/ The Company posted a Letter to Our Shareholders on its Investor Relations website from Founder and CEO Dr. Qichao Hu and Chief Financial Officer Jing Nealis, which provides a business update and details on first quarter 2024 results. “The game-changing collaboration with Hyundai Motor Company and Kia Corporation is one of the more significant milestones we have reached to date,” stated Dr. Qichao Hu, Founder and CEO. “Moving to the next phase of our contract with these partners, together with other agreements and UAM cell production we are anticipating later this year, reinforces our lead in the race to commercialize our Li-Metal technol

The Indy Autonomous Challenge Returns to the Indianapolis Motor Speedway on September 6, 20242.5.2024 20:00:00 CEST | Press release

The Indy Autonomous Challenge (IAC) will make a grand return to the Indianapolis Motor Speedway (IMS) “The Racing Capital of the World” on September 6th, 2024. The competition is set to be a landmark event, featuring a head-to-head race of the world’s fastest autonomous racecars piloted by AI driver software developed by 10 teams representing 18 top universities from North America, Europe, and Asia. History was made at IMS in October 2021 when IAC organized the world’s first head-to-head high-speed autonomous racing competition. Since then, IAC has organized five races at iconic tracks, including Las Vegas Motor Speedway during CES and the Monza F1 Circuit in Italy. IAC and its university teams have achieved a long list of world records for high-speed ground-based autonomy. World records include the autonomous land speed record (192.2 mph), the top speed on-track (180 mph), the fastest on-track head-to-head overtake (177 mph), and most miles of autonomous racing (7,500 miles). “Three y

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye