CSL (ASX:CSL) to acquire biotech company Vitaeris

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.