Vertex to Acquire CTP-656 from Concert Pharmaceuticals for the Treatment of Cystic Fibrosis
- Vertex to develop CTP-656 for potential use in future combination regimens aimed at treating the underlying cause of CF -
- Concert to receive $160 million in cash with potential for $90 million in future regulatory approval milestone payments -
- Concert to Host Conference Call at 8:30 AM EST to Discuss Transaction and 2016 Financial Results -
LEXINGTON, Mass. -- Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced that it has signed a definitive asset purchase agreement with Vertex Pharmaceuticals, Inc. (NASDAQ: VRTX) under which Vertex will acquire CTP-656. 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 CF.
- Published: 06 March 2017
- Written by Editor
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