Bristol's Fibrotic Game Plan: Promedior Buy Hinges On Phase II Data
This article was originally published in Scrip
Already very active in deal-making for fibrotic disease companies and candidates in the past year, Bristol-Myers Squibb ponied up $150m in upfront cash on Aug. 31 for an option to acquire Promedior Inc. and its mid-stage biologic for myelofibrosis (MF) and idiopathic pulmonary fibrosis (IPF).
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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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Despite no mega-deals (yet), the J.P. Morgan Healthcare Conference’s first day brings the usual flurry of deals, including a pair of tie-ups each for Bristol and Pfizer. BioNTech moves into cancer with Crescendo.