Promedior again agrees to a takeover, this time by Roche

US biotech firm Promedior has entered into a definitive agreement to be acquired by Swiss pharma giant Roche (ROG: SIX).

With this acquisition, which has a transaction value of up to $1.39 billion, Roche will obtain full rights to Promedior's entire portfolio of molecules for serious fibrotic diseases, notably PRM-151.

Prior to this agreement, in 2015, Promedior signed an exclusive deal with Bristol-Myers Squibb (NYSE: BMY) which included an option for the US drug major to buy the company under a package worth a potential $1.25 billion, with $150 million upfront, but B-MS subsequently decided not to take up the option.