Roche Completes $1.4-Bn Acquisition of Biopharma Company PromediorBy
Roche has completed its previously announced acquisition of Promedior, a Lexington, Massachusetts-based clinical-stage biopharmaceutical company focused on developing drugs for fibrotic diseases, in an approximate $1.4-billion deal (upfront cash payment of $390 million, with additional contingent payments of up to $ 1 billion). The deal was first announced in November 2019.
With this acquisition, Roche obtained full rights to Promedior’s entire portfolio of molecules for fibrotic diseases, including its lead product candidate, PRM-151 for the prevention and reversal of fibrosis.
Promedior has advanced PRM-151, a recombinant form of human pentraxin-2 protein, in human clinical trials and received breakthrough therapy designation from the US Food and Drug Administration in March 2019 for idiopathic pulmonary fibrosis. Pentraxin-2 is an endogenous human protein that is specifically active at the site of tissue damage. PRM-151 has shown broad anti-fibrotic activity in multiple preclinical models of fibrotic disease, including pulmonary fibrosis, myelofibrosis, acute and chronic nephropathy, liver fibrosis, and age-related macular degeneration, according to the companies.