Vertex agrees to buy protease drugs from Catalyst Bio
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Clinical-stage biotech Catalyst Biosciences (NASDAQ:CBIO) announced Monday that cystic fibrosis drugmaker Vertex Pharmaceuticals (VRTX) signed an asset purchase and sale agreement with the company to acquire a group of product candidates for $60 million in cash.

Nano-cap Catalyst Bio (CBIO) has added ~163% on above-average volume in the pre-market so far.
The agreement to sell the candidates known as protease medicines designed to regulate the complement, including CB 2782-PEG, was part of an ongoing initiative to find strategic options for the business, Chief Executive of Catalyst Bio (CBIO) Nassim Usman said.
âWe have significantly reduced our cash burn and continue to work with our advisors to evaluate additional strategic alternatives for Catalyst,â he added.

In February, Catalyst Bio (CBIO) announced its plans to explore strategic alternatives for the company.