Vertex to acquire Exonics Therapeutics for an initial $245m.

Vertex Pharmaceuticals, a global biotechnology company, agreed to acquire Exonics Therapeutics, developer of gene editing therapies to treat patients with severe genetic neuromuscular diseases, for an upfront payment of $245m and potential milestone payments of up to $750m. The closing of this transaction will be subject to certain conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The companies anticipate the acquisition will close in the third quarter of 2019.