March 6, 2017 / 12:13 PM / 6 months ago

BRIEF-Vertex to acquire CTP-656 from Concert Pharmaceuticals

March 6 (Reuters) - Vertex Pharmaceuticals Inc:

* Vertex to acquire CTP-656 from Concert Pharmaceuticals for the treatment of cystic fibrosis

* Concert to receive $160 million in cash with potential for $90 million in future regulatory approval milestone payments

* Vertex Pharmaceuticals Inc- signed a definitive asset purchase agreement to acquire CTP-656 from concert pharmaceuticals

* Vertex to develop CTP-656 for potential use in future combination regimens aimed at treating underlying cause of CF

* Vertex Pharmaceuticals Inc - Vertex will pay concert $160 million in cash for all worldwide development and commercialization rights to CTP-656

* Vertex Pharmaceuticals - Concert’s board of directors unanimously supports transaction and recommends that concert’s shareholders vote in favor of it Source text for Eikon: Further company coverage:

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