Vertex / CrineticsMN-05036

Parties

Summary

Vertex Pharmaceuticals Incorporated will acquire 100% of the shares in Crinetics Pharmaceuticals, Inc. This share acquisition involves US-based biotechnology company Vertex, which has TGA-approved products in Australia, and US-based pharmaceutical company Crinetics, focused on endocrine diseases with products in development.

Acquisition details

Vertex Pharmaceuticals Incorporated ( Vertex ) proposes to acquire 100% of the issued shares in Crinetics Pharmaceuticals, Inc. ( Crinetics ) (the Acquisition ). Vertex is a US-based biotechnology company, listed on the Nasdaq Global Select Market under the symbol “VRTX”, that develops, manufactures and markets a range of pharmaceutical products for serious diseases. It currently has 7 approved products for the treatment of cystic fibrosis, sickle cell disease, transfusion dependent beta thalassemia, and acute pain (including 5 that are approved by the Therapeutic Goods Administration (TGA) and supplied in Australia). It also has certain products currently in development stages for other serious diseases. Crinetics is a US-based pharmaceutical company, listed on the Nasdaq Global Select Market under the ticker symbol “CRNX”, that has a focus on discovering, developing, and commercialising treatments for endocrine diseases. Crinetics has one product on market in the US, Palsonify (paltusotine), a prescription oral medication used to treat acromegaly, a rare hormonal disorder. Palsonify is not currently approved or under review for approval by the TGA for supply in Australia. Crinetics also has a range of products currently in development stages in the endocrinology, endocrine-driven oncology and metabolic diseases spaces.