Roche successfully completed its acquisition of Promedior, a Lexington, MA-based clinical stage biotechnology company, with an upfront payment of $390 million. If all development, regulatory, and commercial milestones are met, Roche will also make additional payments of up to $1 billion.
Promedior, Inc. today announced the successful completion of its previously announced sale to Roche (SIX: RO, ROG;OTCQX: RHHBY). With this acquisition, Roche obtained full rights to Promedior's entire portfolio of molecules for serious fibrotic diseases, notably PRM-151. Under the terms of the merger agreement, Roche made an upfront cash payment of USD 390 million, with additional contingent payments of up to USD 1 billion to be made based on the achievement of certain predetermined development, regulatory and commercial milestones.