After Bristol-Myers Squibb Co. declined to exercise its option to buy Promedior Inc. in mid-2018, the small biopharmaceutical company began to consider its options for financing Phase III development of its lead asset PRM-151 in idiopathic pulmonary fibrosis (IPF). Ultimately, Promedior opted to be acquired by another big pharma, announcing on 15 November that Roche will pay $390m up front and up to $1bn in development, regulatory and commercial milestone fees.
Roche Paying $390m Up Front For Fibrosis-Fighting Promedior
The deal, which includes up to $1bn for milestones, gives Roche Promedior’s PRM-151, a Phase III-ready asset for IPF that has also completed a Phase II study in myelofibrosis and could be effective in a broad range of fibrotic diseases.
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