A major announcement for a startup company in St. Louis' Cortex district in midtown.

BioGenerator, an investment company that helps fund local startups, announced Tuesday morning that a Philadelphia-based biopharmaceutical company called Aclaris Therapeutics is purchasing Confluence Life Sciences in a deal worth up to $100 million.

The company will also be adding more jobs and building a state-of-the-art lab in St. Louis next year.

Confluence Life Sciences, founded by former Pfizer executives Joe Monahan and Walter Smith, was the first lab tenant for BioGenerator's lab space. That space is now home to more than 50 startups and is available for little or no cost to new companies forming in St. Louis.