Via $950M Semma takeout, Vertex moves into diabetes and cell therapy

As Vertex continues to add new therapeutic areas and modalities to its portfolio, the company will pay $950 million in cash to acquire Semma and its stem cell-derived islet program. The acquisition marks Vertex's entry into diabetes and cell therapy.

Semma Therapeutics Inc. (Cambridge, Mass.) President and CEO Bastiano Sanna will serve as president of the subsidiary...