By a News Reporter-Staff News Editor at Pharma Business Week -- Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) and Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) announced the completion of their previously announced 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 U.S. and reimbursement in the U.K., Germany or France (see also Pharmaceutical Companies).
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170725006416/en/ About Vertex Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious and life-threatening diseases. In addition to clinical development programs in CF, Vertex has more than a dozen ongoing research programs focused on the underlying mechanisms of other serious diseases.
Keywords for this news article include: Concert Pharmaceuticals, Pharmaceutical Companies, Vertex Pharmaceuticals Incorporated, Cystic Fibrosis, Lung Diseases and Conditions, Pancreatic Diseases and Conditions, Digestive System Diseases and Conditions, Respiratory Tract Diseases and Conditions.
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