CSL (ASX:CSL) to acquire biotech company Vitaeris - Sequoia Direct Pty Ltd

09JunJune 9, 2020

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

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