“Vertex is ideally suited to accelerate the achievement of this goal.” About Semma Therapeutics “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.” Vertex expects the deal to close in the final quarter of 2019 following the achievement of customary conditions, including the expiration of a waiting period mandated by the Hart-Scott-Rodino Antitrust Improvement Act. Semma will become a separate operating subsidiary of Vertex. The rare disease drug specialist— known for …
Vertex Pharmaceuticals (NASDAQ: ... Vertex is after Semma's potential cure for type-1 diabetes, and if the company manages to reach that lofty goal, it …
The company leverages Melton’s laboratory work to produce functional insulin-producing beta cells for type 1 diabetes patients. Listed on the New York Stock Exchange, Vertex’s share price dropped by 1.32 to 178.70 at closing on 3 September following the announcement. Vertex Pharmaceuticals has agreed to acquire Semma Therapeutics for $950 million cash, in a deal that would expand the buyer’s pipeline of specialty treatment with Semma…
Vertex Pharmaceuticals said today it has agreed to acquire Semma Therapeutics for $950 million cash, in a deal that would expand the buyer’s pipeline of specialty treatment with Semma’s potentially curative cell therapy for type 1 diabetes.Semma said its type 1 diabetes therapy is designed to incorporate a pair of 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.“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,” Jeffrey Leiden, MD, PhD, Vertex’s chairman, president, and CEO, said in a statement.
This breakthrough technology has been exclusively licensed to Semma for the development of a cell-based therapy for diabetes. At Vertex, we're relentless in our pursuit of medical research to create transformative medicines for people with serious and genetic diseases, like cystic fibrosis. 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.
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.
“Being a part of Vertex will allow the Semma team to rapidly and effectively advance our cell therapy and delivery approaches to patients who need them.” Under the terms of the deal, Vertex will acquire all outstanding Semma shares for $950 million in cash. Vertex executive vice-president of global research and chief scientific officer David Altshuler said: “Unlike insulin injections and insulin pumps, islet cell transplantation can provide physiologic regulation of blood glucose thereby potentially ameliorating or preventing both the hyperglycaemic and hypoglycaemic episodes associated with the current standards of care.” Semma said the SC-islets are functionally equivalent to natural islets from a human pancreas, sensing glucose levels and releasing a precise amount of insulin in response.SC-islets from Semma’s clinical manufacturing process are more plentiful, reproducible, and robust than purified human pancreatic islets from organ donors. Under the terms of the acquisition, Vertex will acquire all outstanding shares of Semma for
View the full release here: 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.” With headquarters in Boston and London, Vertex is an innovation-focused company most well-known for its combination cystic fibrosis drugs, including Orkambi and Symkevi. The cystic fibrosis specialist is snapping up Semma Therapeutics and its stem cell-based diabetes treatments for … Copyright © 2020 Genetic Engineering & Biotechnology News. Vertex Pharmaceuticals has struck a deal to acquire local diabetes-focused startup Semma Therapeutics, marking another substantial pivot for the company as CEO Jeff Leiden's tenure comes to a close.
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