Vertex announces ViaCyte acquisition to expand diabetes pipeline
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Vertex Pharmaceuticals (NASDAQ:VRTX) announced an agreement on Monday to acquire ViaCyte, a privately held biotech focused on stem cell-derived cell replacement therapies for type 1 diabetes (T1D). 
Per the terms, cystic fibrosis-focused Vertex (VRTX) is set to pay $320M in cash for ViaCyte in a deal expected to close later this year.

ââ¦..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,â Chief Executive of Vertex (VRTX) Reshma Kewalramani remarked.

Vertexâs (VRTX) allogeneic stem cell-derived islet cell therapy for T1D, VX-880 has already demonstrated proof-of-concept in an ongoing Phase 1/2 study.