Baird analyst Brian Skorney said Vertex's (VRTX) purchase of Concert Pharmaceuticals (CNCE) strengthens its cystic fibrosis franchise and defends its position as the leading CF company by eliminating a potential competitor. The deal also has a chance to extend patient life with improved dosing potential, said Skorney. The analyst believes it is a smart acquisition and reiterated his Outperform rating and $115 price target on Vertex shares.

Vertex Pharmaceuticals and TreeFrog Therapeutics announced that Vertex has obtained an exclusive license to TreeFrog's proprietary cell manufacturing technology, C-Stem, to optimize production of Vertex's cell therapies for type 1 diabetes, or T1D. TreeFrog and Vertex will collaborate to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies. TreeFrog's proprietary technology platform, C-Stem, is designed to mimic the natural microenvironment, allowing cells to grow exponentially in 3D. The technology will enhance Vertex's ability to generate large amounts of fully differentiated cells for its portfolio of T1D cell therapies.