The Federal Trade Commission Dec. 17 approved Roche's purchase of Spark Therapeutics for $4.3 billion, according to Philadelphia Business Journal.
Roche signed an agreement to purchase Spark in February, but the deal had to be approved by both the FTC and the UK Competition and Markets Authority to ensure it wouldn't inhibit competition. The regulators didn't put any conditions on the deal.
Spark is a Philadelphia-based drugmaker that focuses on gene therapies. It developed Luxturna, which in 2017 became the first FDA-approved gene therapy to treat an inherited disease.
Luxurna treats Biallelic RPE65 mutation-associated retinal dystrophy, an eye disease that can lead to blindness.
Spark, which now has more than 450 employees, will continue to operate in Philadelphia as a wholly owned subsidiary of Roche, according to the Philadelphia Business Journal.
Read the full article here.
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