Thursday, April 8, 2010

Fate Therapeutics Acquires Verio Therapeutics

San Diego-based Fate Therapeutics, a developer of stem cell therapeutics, announced this morning that it is in a definitive agreement to acquire Canadian biotechnology firm Verio Therapeutics. Financial terms of the acquisition were not disclosed. Verio Therapeutics is developing drug candidates targeted at activating endogenous stem cells. Fate said that, as part of the buy, it has formed a Canadian subsidiary to continue Verio's discovery and development operations in Ottawa.

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