Roche too buy Promedior for $1.3B

Friday, 15. November 2019 16:31

American biotech company Promedior Inc. announced on Friday it has entered into a definitive to be acquired by F. Hoffmann-La Roche AG in a deal worth up to $1.39 billion.

Under the terms of the agreement, the Swiss healthcare giant will pay $390 million upfront for Promedior, plus additional contingent payments of up to $1 billion based on the achievement of certain predetermined development, regulatory and commercial milestones.

"With over a decade of research, development, and investment, Promedior has demonstrated the unique ability of its pentraxin-2 platform to deliver disease-modifying potential in fibrotic disorders. Due to Roche's strong expertise in IPF, hematological cancer, and other fibrotic disorders, we believe Roche is ideally positioned to bring the potential of our platform to patients and provide new treatment options within these areas of urgent unmet medical need," Promedior's chief executive Jason Lettmann said in the press release.

Related Links: Roche Holding
Author:
Breaking the News / MD