Vertex buys developer of preclinical cell therapy for Type 1 diabetes for $950M
The Boston-based company said it would acquire Semma Therapeutics, which is developing a stem cell-derived therapy and device for the disease. Preclinical data were announced in July, and clinical trials are planned for 2020. Vertex Pharmaceuticals is betting nearly $1 billion on a company developing a stem cell-based therapy and device with the stated goal of creating a potentially curative treatment for Type 1 diabetes, though it is still preclinical. Boston-based Vertex said Tuesday that it would pay $950 million to buy Semma Therapeuticis, a privately held company based on nearby Cambridge. The company is developing a therapy using stem cell-derived human islets.