====Concert Pharmaceuticals (CNCE) to sell CTP-656 to Vertex Pharmaceuticals (VRTX)

• Concert Pharmaceuticals (CNCE) to be aquired by Sun Pharma. (January 19, 2023)

Concert Pharmaceuticals to sell CTP-656 to Vertex Pharmaceuticals (VRTX) for an upfront payment of $160 mln in cash with the potential for $90 mln in future regulatory approval milestone payments:

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 CF. As part of the agreement, Vertex will pay Concert $160 million in cash for all worldwide development and commercialization rights to CTP-656. If CTP-656 is approved as part of a combination regimen to treat CF, Concert could receive up to an additional $90 million in milestones based on regulatory approval in the U.S. and reimbursement in the UK, Germany or France.

• Concert is currently conducting a Phase 2 study of CTP-656 in people with CF who have gating mutations. As part of the agreement, Vertex will acquire rights to all of Concert's other CF research and preclinical programs.