Roche Acquires Promedior Molecule Portfolio For Up to $1.4 Billion
Through the agreement, Roche will gain full rights to the company’s portfolio of molecules for fibrotic diseases, most notably PRM-151, Promedior’s lead product candidate.
Roche announced it is entering into a definitive merger agreement with Promedior, a biotechnology company focused on developing therapeutics for fibrosis, for up to $1.4 billion. Through the agreement, Roche will gain full rights to the company’s portfolio of molecules for fibrotic diseases, most notably PRM-151, Promedior’s lead product candidate.
According to a Nov. 15, 2019 press release issued by Promedior, Roche will make an upfront cash payment of $390 million, with additional payments of up to $1 billion if certain development, regulatory, and commercial milestones are achieved.
PRM-151 is a recombinant form of the human pentraxin-2 protein and is the first molecule to show significant lung function improvements on top of current therapies in idiopathic pulmonary fibrosis (IPF), according to the release. The molecule has moved to human clinical trials and received breakthrough therapy designation from FDA in early 2019 for IPF.
"With [more than] 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,” said Jason Lettmann, CEO of Promedior and general partner of Lightstone Ventures, in the press release. “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."
"We are excited to combine Promedior's portfolio with our drug development capabilities to further advance PRM-151 in fibrotic diseases, including IPF and [myelofibrosis]," added James Sabry, MD, PhD, global head of Roche Pharma Partnering, in the press release. "With our proven track record in IPF with Esbriet as well as in hematological cancers, we are well-positioned to leverage our clinical and commercial expertise to bring PRM-151 to patients as fast as possible."
Source: Promedior
Drug Solutions Podcast: A Closer Look at mRNA in Oncology and Vaccines
April 30th 2024In this episode fo the Drug Solutions Podcast, etherna’s vice-president of Technology and Innovation, Stefaan De Koker, discusses the merits and challenges of using mRNA as the foundation for therapeutics in oncology as well as for vaccines.
Drug Solutions Podcast: Gliding Through the Ins and Outs of the Pharma Supply Chain
November 14th 2023In this episode of the Drug Solutions podcast, Jill Murphy, former editor, speaks with Bourji Mourad, partnership director at ThermoSafe, about the supply chain in the pharmaceutical industry, specifically related to packaging, pharma air freight, and the pressure on suppliers with post-COVID-19 changes on delivery.
PacBio Chosen as Tech Partner for Global Alzheimer’s Disease Research Project
April 23rd 2025The project, the North African Dementia Registry, will unite multiple entities for the purpose of developing a comprehensive dataset to advance the research community’s understanding of Alzheimer’s disease and other dementias in diverse populations.
