Roche Holding AG has agreed to purchase Spark Therapeutics Inc for $4.3 billion.
Spark, which was founded by the Children’s Hospital of Philadelphia, will continue to operate in Philadelphia as an independence company under Roche.
“With its worldwide reach and extensive resources, Roche will help us accelerate the development of more gene therapies for more patients for more diseases,” Spark CEO Jeffrey D. Marrazzo said in a joint statement issued with Roche.
The CHOP Foundation will collect about $430 million for its Spark shares.
Article by the Philadelphia Inquirer