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Roche snaps up U.S. biotech Promedior for up to $1.4 billion for idiopathic pulmonary fibrosis drug

LONDON, 15 Nov (APM) - Roche is buying privately-owned Promedior for up to $1.4 billion, it was announced on Friday.
Its leading drug candidate against lung disease idiopathic pulmonary fibrosis is set to begin late-stage trials, Promedior said.
The deal includes a payment of $390 million, plus the potential for $1 billion more if conditions are met.
The U.S. biotech said its lead candidate, PRM-151, has demonstrated in Phase II that it is is the first molecule to show significant lung function improvements on top of current therapies in IPF.
"PRM-151 has also shown promising early clinical trial data in myelofibrosis (MF) and its anti-fibrotic mechanism has therapeutic potential in other fibrotic diseases."
Roche already has an IDF drug, Esbriet (pirfenidone), with sales in 2018 of just over $1 billion.
The Swiss pharma is also in the process of trying to buy gene therapy specialist Spark Therapeutics for $4.3 billion, but the deal is being stalled by competition investigations. (APMHE 64904)
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