The Life Sciences team advised Promedior, Inc. on its definitive merger agreement for Roche (SIX: RO, ROG;OTCQX: RHHBY) to acquire Promedior. Roche will make an upfront cash payment of $390 million, plus additional contingent payments of up to $1 billion based on the achievement of certain predetermined development, regulatory and commercial milestones.
Promedior, a privately held clinical-stage biotechnology company based in Lexington, Massachusetts, has successfully advanced PRM-151 in human clinical trials and received Breakthrough Therapy Designation from the FDA earlier this year for idiopathic pulmonary fibrosis (IPF). With this acquisition, global pharmaceuticals company Roche will obtain full rights to Promedior's entire portfolio of molecules for serious fibrotic diseases, notably PRM-151.
The Goodwin team was led by Kingsley Taft, and included Kim Larie, Joshua Tarr, Erini Svokos, Dan Karelitz and Kyle Pine (tax), Julie Tibbets (FDA), and James Mattus, Morgan Frisoli, Jennifer Fay, Tim Holahan and Lee Douthitt (employment).
For more details, read the press release and articles in Reuters, Endpoints and The Deal.