Vertex and Concert Pharmaceuticals complete asset purchase agreement for CTP-656
Vertex now has worldwide development and commercialization rights to CTP-656 and other assets related to the treatment of cystic fibrosis.
Vertex Pharmaceuticals and Concert Pharmaceuticals have announced the completion of their asset purchase agreement.
Under the completed agreement, Vertex now has worldwide development and commercialization rights to CTP-656 and other assets related to the treatment of cystic fibrosis (CF). 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 combination regimens of CFTR modulators that treat the underlying cause of cystic fibrosis.
Concert received $160 million in cash upon closing and is eligible to receive up to $90 million in additional milestones based on regulatory approval in the US and reimbursement in the UK, Germany or France.
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