The Company's strategy is to commercialize its products both independently and in collaboration with major pharmaceutical companies. The companies anticipate the acquisition will close in the fourth quarter of 2019, subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The agreement includes an upfront payment of $575 million and a potential milestone payment of $75 million. “We are excited to work with the talented scientists at Semma to build on their significant progress toward providing effective and potentially curative cell therapy options for people living with type 1 diabetes. The company’s diabetes focus is built on a $1 billion acquisition of Semma Therapeutics in 2019. Josh Hazael. Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) today announced that the company has entered into a definitive agreement under which Vertex will acquire Semma Therapeutics, a privately held biotechnology company pioneering the use of stem cell-derived human islets as a potentially curative treatment for type 1 diabetes, for $950 million in cash. Article COVID-19 Pandemic deals blow to former Celgene shareholders. Vertex acquisition of Semma Therapeutics: US biotechnology company Vertex Pharmaceuticals has agreed to acquire privately-held biotechnology company Semma Therapeutics for $950 million in cash, as per the latest pharma acquisition news.. Vertex Special Note Regarding Forward-Looking Statements. The pharmaceutical company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.68. Vertex's product pipeline is focused on viral diseases, 28 Vertex Pharmaceuticals Talent acquisition manager jobs. The FDA hasn’t made a decision yet, but Kewalramani said they expect it to get the greenlight this year. We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them. Article COVID-19 Pandemic deals blow to former Celgene shareholders. The FDA hasn’t made a decision yet, but Kewalramani said they expect it to get the greenlight this year. Analysts are cheering a new acquisition by Vertex Pharmaceuticals to jump start its gene-therapy program. Semma recently announced the achievement of preclinical proof-of-concept for these two lead programs based on data in which they tested human stem cell-derived islets (SC-islets) in both non-human primates and pigs. Search job openings, see if they fit - company salaries, reviews, and more posted by Vertex Pharmaceuticals employees. +1 212-257-6724 Vertex Pharmaceuticals, Inc. is an American biopharmaceutical company based in Boston, Massachusetts.It was one of the first biotech firms to use an explicit strategy of rational drug design rather than combinatorial chemistry.It maintains headquarters in South Boston, Massachusetts, and three research facilities, in San Diego, California, and Milton Park, near Oxford, England These data were presented in a plenary session at the International Society for Stem Cell Research (ISSCR) in June 2019. Talent Acquisition Manager at Vertex Pharmaceuticals London. It was one of the first biotech firms to use an explicit strategy of rational drug design rather than combinatorial chemistry. Vertex is committed to equal employment opportunity and non-discrimination for all employees and qualified applicants without regard to a person's race, color, sex, gender identity or expression, age, religion, national origin, ancestry, ethnicity, disability, veteran status, genetic information, sexual orientation, marital status, or any characteristic protected under applicable law. Vertex Pharmaceuticals - Get Report will be weighing future acquisitions and partnerships to broaden is focus beyond cystic fibrosis. Elliot Fox, W2O Group It maintains headquarters in South Boston, Massachusetts, and three research facilities, in San Diego, California, and Milton Park, near Oxford, England. In addition, the acquisition of Semma continues to expand the Vertex toolbox of cutting edge technologies and capabilities, and bolsters our team of leading scientists.”, “Type 1 diabetes is a disease that afflicts millions of people worldwide and has no curative therapies available,” said Bastiano Sanna, Ph.D., President and Chief Executive Officer of Semma. Vertex Pharmaceuticals is a biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases. Vertex Pharmaceuticals has acquired 3 organizations. Vertex Pharmaceuticals is looking to acquire “mid- and late-stage assets” to bolster its current research pipeline, CEO Reshma Kewalramani said … Also, Dr. Melton will continue in his role as Chair of Semma’s Scientific Advisory Board and provide oversight and guidance on the research and development of the programs. “Their compelling proof-of-concept data in animals demonstrates the opportunity to develop transformative and potentially curative therapies to treat people with type 1 diabetes. Vertex Pharmaceuticals net acquisitions/divestitures for the twelve months ending September 30, 2020 were $-1.154B, a 369.53% increase year-over-year. Boston, Massachusetts 02210 Semma was founded by Douglas Melton, Ph.D. and others to develop transformative therapies for patients who currently depend on insulin injections. To date, Semma’s cell therapy approach is the only islet cell transplantation program to have demonstrated both positive c-peptide release (a marker of insulin secretion), as well as positive glycemic control of experimentally induced diabetes. Photo courtesy of Vertex. Get hired. The Company’s most targeted sectors include life science (100%). This breakthrough technology has been exclusively licensed to Semma for the development of a cell-based therapy for diabetes. To Olson, the acquisition of Exonics by Vertex is a sign that this preliminary data has a real chance of being translated into clinical use to improve the lives of people with DMD. Vertex Pharmaceuticals has acquired in 2 different US states, and 2 countries. The Boston-based company is coming off a busy December 2020. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia and Latin America. Vertex Pharmaceuticals chairman, president and CEO Jeffrey Leiden said: “Through the expanded collaboration with CRISPR and the acquisition of Exonics, we are bringing together the intellectual property, technologies, and scientific expertise needed to … Vertex is consistently recognized as one of the industry's top places to work, including nine consecutive years on Science magazine's Top Employers list and top five on the 2019 Best Employers for Diversity list by Forbes. Under the terms of the acquisition, Vertex will acquire all outstanding shares of Semma for $950 million in cash, and Semma will become a separate operating subsidiary of Vertex. Hannah Pullen Senior Project Coordinator at mdgroup Bracknell. Implantation of the islet cell-filled device has the potential to replace the missing beta cells in a diabetic patient without requiring patient immunosuppression. Semma has made two major scientific advances: the ability to produce large quantities of functional human pancreatic beta cells that restore insulin secretion and ameliorate hypoglycemia in animal models and a novel device that encapsulates and protects these cells from the immune system, enabling durable implantation without the need for ongoing immunosuppressive therapy. Heather Nichols “This acquisition aligns perfectly with our strategy of investing in scientific innovation to create transformative medicines for people with serious diseases in specialty markets,” said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. Vertex Pharmaceuticals' $950 Million Bet on Curing Type 1 Diabetes Could Have an Astronomical Payoff The biotech just announced a potentially game-changing acquisition. United States, Vertex Pharmaceuticals, Inc. is a global biotechnology company that aims to discover, develop and commercialize innovative new medicines so people with serious diseases can lead better lives. The company is focused on advancing Dr. Melton’s method of generating billions of functional, insulin-producing beta cells grown from stem cells in the laboratory, which develop in islet-like clusters. Vertex's product pipeline is focused on viral diseases, While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent Vertex's beliefs only as of the date of this press release and there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements. Vertex Pharmaceuticals has acquired in 2 … Move over, Sarepta Therapeutics, Solid Biosciences, PTC Therapeutics and Pfizer. CTP-656 is an investigational cystic fibrosis transmembrane conductance regulator (CFTR) potentiator that has the potential to be used as part of future once-daily … Vertex Pharmaceuticals Incorporated recently announced the completion of its acquisition of Aurora Biosciences Corporation. 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, UK. 29 Vertex Pharmaceuticals Talent acquisition manager jobs, including salaries, reviews, and other job information posted anonymously by Vertex Pharmaceuticals Talent acquisition manager employees. Vertex will provide any appropriate updates to its current 2019 financial guidance in conjunction with its third quarter 2019 earnings release or upon closing the transaction, whichever occurs later. In June 2019, Vertex announced the establishment of a new research site in the Boston area where research, development, and clinical manufacturing for cell and genetic therapies will be primarily based. Vertex Pharmaceuticals story: Acquisition by Mckenzie Diana of 121 shares of Vertex Pharmaceuticals subject to Rule 16b 3 and other headlines for Vertex Pharmaceuticals On Monday, at the virtual JP Morgan Healthcare Conference, Vertex Pharmaceuticals’ chief executive officer Reshma Kewalramani said the company is looking to buy “mid- and late-stage assets.”. Vertex Pharmaceuticals chairman, president and CEO Jeffrey Leiden said: “Through the expanded collaboration with CRISPR and the acquisition of Exonics, we are bringing together the intellectual property, technologies, and scientific expertise needed to establish a leading gene-editing platform for DMD and DM1.” It’s largest disclosed sale occurred in 2013, when it sold INCIVO to Janssen Pharmaceuticals for $152M. Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) to acquire Semma Therapeutics to develop curative cell-based treatments for type 1 diabetes. Vertex Pharmaceuticals closed up 0.285 at 229.665. Vertex Pharmaceuticals - Get Report will be weighing future acquisitions and partnerships to broaden is focus beyond cystic fibrosis. The pharmaceutical company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.68. “Vertex has a proven track record of serial innovation and a deep commitment to developing transformative therapies for patients in need. (617) 341-6100 M&A research that takes seconds (not all afternoon), Better understand your customers and prospects. Vertex creates new possibilities in medicine to cure diseases and improve people's lives. Stem Cell Research Associate: Vertex Pharmaceuticals. or Vertex Pharmaceuticals has acquired 5 companies, including 3 in the last 5 years. 617-341-6992 Vertex disclaims any obligation to update the information contained in this press release as new information becomes available. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, Dr. Leiden’s statements in the second paragraph of the press release, Dr. Altshuler’s statements in the third paragraph of the press release, Dr. Sanna’s statements in the fourth paragraph of the press release, Dr. Melton’s statements in the fifth paragraph of the press release, and statements regarding the timing of the potential closing of the transaction and the potential benefits of the acquisition. Karen Biscoe Talent Acquisition Manager. It’s largest disclosed sale occurred in 2013, when it sold INCIVO to Janssen Pharmaceuticals for $152M. www.vrtx.com. The Company's strategy is to commercialize its products both independently and in collaboration with major pharmaceutical companies. Royalty Pharma plc closed its agreement to acquire the residual royalty interest in Vertex Pharmaceuticals, Inc.’s cystic fibrosis treatments owned by the Cystic Fibrosis Foundation. Hannah Pullen. Josh Hazael Customer Care Account Analyst Addlestone. The US regulator has said a submission from Bristol Myers Squibb for lisocabtagene maraleucel (liso-cel) will be delayed. Emma Zgonc January 19, 2021. Lucie Gower. It has also divested 2 assets. Vertex Investor Contacts: BOSTON--(BUSINESS WIRE)-- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that it has signed a definitive asset purchase agreement to acquire CTP-656 from Concert Pharmaceuticals (Nasdaq: CNCE). By analyzing existing cross correlation between Vertex Pharmaceuticals Incorpor and Leisure Acquisition Corp, you can compare the effects of market volatilities on Vertex Pharmaceuticals and Leisure Acquisition and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. 0 Comments. Semma is working to bring this new therapeutic option to the clinic and improve the lives of patients with diabetes. By analyzing existing cross correlation between Vertex Pharmaceuticals Incorpor and Greenrose Acquisition Corp, you can compare the effects of market volatilities on Vertex Pharmaceuticals and Greenrose Acquisition and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. Michael Partridge, 617-341-6108 The transaction was completed today after Vertex and Aurora shareholders voted to approve the merger agreement at special meetings held at Vertex's and Aurora's headquarters. They acquired Semma Therapeutics for $950M. “Vertex is ideally suited to accelerate the achievement of this goal.”. In addition to pursing direct intra-hepatic transplantation of these islet cells, ongoing research at Semma is focused on combining these proprietary cells with a state-of-the-art cell device and immune protection strategy that can protect these cells from the patient’s immune system and allow the beta cells to function as they do in non-diabetic individuals. mediainfo@vrtx.com, Semma Media Contact: Initial preclinical work in animal models of diabetes has shown that transplantation of these cells by infusion into the liver is sufficient to control blood glucose levels. Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, October 29th. The company’s diabetes focus is built on a $1 billion acquisition of Semma Therapeutics in 2019. Under the terms of the acquisition, Vertex will acquire all outstanding shares of Semma for $950 million in cash, and Semma will become a separate operating subsidiary of Vertex. Vertex Pharmaceuticals’ largest acquisition to date was in 2019, when it acquired Exonics Therapeutics for $1.0B. The company has three 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. We see a substantial opportunity to transform the treatment paradigm for type 1 diabetes, a specialty disease cared for by endocrinologists, both by advancing the development and manufacturing of the cells themselves, as well as through the highly innovative cell/device combination.”, “The therapeutic approach pioneered by Semma has the potential to address the causal human biology of type 1 diabetes, a serious disease inadequately controlled by existing therapies. 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