Vertex acquires ViaCyte, with the aim of accelerating VX-880's potential therapeutic programs in type 1 diabetes

Vertex acquires ViaCyte, with the aim of accelerating VX-880’s potential therapeutic programs in type 1 diabetes

Boston – (a job) — Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) today announced that the company has entered into a definitive agreement under which Vertex will acquire ViaCyte, a private biotechnology company focused on providing novel stem cell-derived replacement therapies as a functional treatment for type 1 diabetes. (T1D), for $320 million in cash.

“The VX-880 has been successfully demonstrated clinical proof-of-concept in T1D, and the acquisition of ViaCyte will accelerate our goal of transforming, if not treating T1D by expanding our capabilities and bringing additional tools, technologies and assets to our existing stem cell-based programs,” said Reshma Kewalramani, MD. CEO and President of Vertex Corporation.

Vertex’s VX-880, an investigational fully differentiated stem cell-derived insulin-producing therapy for T1D, has already achieved proof-of-concept with very promising results in terms of safety and efficacy from an ongoing, ongoing Phase 1/2 study of patient enrollment and doses. The acquisition of ViaCyte provides Vertex with complementary assets, capabilities and technologies, including additional human stem cell lines, intellectual property on stem cell differentiation, and Good Manufacturing Practices (GMP) manufacturing facilities for cell-based therapies that can accelerate Vertex’s ongoing T1D programs. The acquisition also provides access to new immune stem cell origins through the ViaCyte collaboration with CRISPR Therapeutics.

“Vertex shares ViaCyte’s commitment to creating a functional cure for T1D, and this acquisition will allow Vertex to deploy ViaCyte’s tools, technologies, and assets in order to advance Vertex’s multi-cell replacement therapy approaches designed to reduce the burden for the millions of people living with ViaCyte,” said Michael Yang, President and CEO of ViaCyte. , “T1D Worldwide”.

Terms of the deal

Under the terms of the acquisition, Vertex will acquire ViaCyte for $320 million in cash. Vertex expects the acquisition to 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 proprietary cell 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 islet cell replacement therapy and a first-in-class immune evasion treatment for diabetes that can eliminate the need for exogenous insulin without the need for immunosuppression. ViaCyte has received support for its research from the JDRF and the California Institute for Regenerative Medicine and has forged collaborative partnerships with leading companies, including CRISPR Therapeutics, to develop their treatments for T1D.

About Vertex

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

Founded in 1989 in Cambridge, Massachusetts, Vertex’s global headquarters are now located in Boston’s Innovation District and its international headquarters are in London. In addition, the company has research and development sites and trading offices in North America, Europe, Australia and Latin America. Vertex is consistently recognized as one of the best workplaces in the industry, including 12 consecutive years on Science magazine’s Top Employers list and one of Seramount’s (formerly operating media) 100 Best Employers for 2021. For company updates and learn more about Vertex’s history of innovation, Visit www.vrtx.com or follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.

A 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, but not limited to, statements made by Dr. Kewalramani and Mr. Yang in this press release, and statements regarding: (1) ) status, clinical progress, and expected therapeutic benefits of VX-880; (ii) the potential impact of the VX-880 and other Vertex T1D software, including the possibility of software conversion to or processing of the T1D; (iii) future activities and potential benefits of the acquisition, including the potential acceleration of the VX-880 and other Vertex T1D programs, expansion of capabilities and tools for use in stem cell-based Vertex programs, and the potential to reduce the disease burden for people living with T1D worldwide; and (iv) the potential closure of the acquisition. While Vertex believes the forward-looking statements 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 these forward-looking statements. These 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, and that data from a number of limited number of patients to final clinical trial results, and that data from company development programs, including T1D programs, may not support timely enrollment or further development of potential drugs, or at all, due to safety, efficacy or other reasons, and other risks included under “Risk Factors” in Vertex’s annual report to the Securities and Exchange Commission and available through the company’s website at www.vrtx.com and on the SEC website. at www.sec.gov. You should not place excessive reliance on these statements. Vertex disclaims any obligation to update the information in this press release when new information becomes available.

(VRTX-GEN)

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