CSL (ASX:CSL) to acquire biotech company Vitaeris
CSL (ASX:CSL) has agreed to exercise its right to acquire Vitaeris Inc in an acquisition cost described as modest, with additional R&D expenses in financial 2021 between $30 million to $50 million.
Vitaeris Inc. is a clinical-stage biotechnology company focused on the phase III development of a treatment for rejection in solid organ kidney transplant patients.
The companies entered into a strategic partnership in 2017 to expedite the development of this program with the option for CSL to acquire Vitaeris in full.
Shares in CSL (ASX:CSL) are trading 0.28 per cent higher at $286.14.
Copyright 2020 – Finance News Network
Source: Finance News Network
