Novartis, Medtronic and SinoPharm will exit the stem cell-based diabetes therapy developer in an acquisition by Vertex Pharmaceuticals.

Biotechnology producer Vertex Pharmaceuticals agreed today to purchase US-based diabetes treatment developer Semma Therapeutics in a $950m all-cash deal that will enable corporates Medtronic, SinoPharm and Novartis to exit. Semma is working on treatments for diabetes that will utilise billions of beta cells grown from stem cells in order to produce insulin. The cells will…

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