LCT to benefit from Semma Therapeutics acquisition by Vertex

AUCKLAND: Living Cells Technologies (LCT) holds 121,995 shares in Semma Therapeutics, worth an anticipated USD 838,105 which would be realised on Vertex Pharmaceuticals Incorporated completing its acquisition of Semma Therapeutics.

The acquisition is anticipated to close in the fourth quarter of 2019, subject to certain conditions. Semma Therapeutics, a privately held biotechnology company pioneering the use of human stem cell-derived islets as a potentially curative treatment for Type 1 diabetes, had previously acquired Cytosolv Inc a private company in which LCT obtained a shareholding in 2009 in return for supply of encapsulated pig cells for wound healing studies.

Vertex Pharmaceuticals Incorporated has announced that the company has entered into a definitive agreement under which Vertex will acquire Semma Therapeutics. LCT intends to vote in favour of the Vertex Pharmaceuticals acquisition of Semma Therapeutics.

Edited by Kazim Rizvi