Bristol-Meyers Gains Rights for $1.25B Purchase of Promedior

Tuesday, September 8, 2015

Source: SmartBrief

The rights to purchase Promedior and its experimental fibrosis drug PRM-151 have been granted to Bristol-Myers Squibb in a deal that could be worth up to $1.25 billion. Under the terms of the agreement, Promedior is eligible for an upfront payment of $150 million. The rights can be exercised following the completion of either of two upcoming midstage trials that will evaluate the treatment against idiopathic pulmonary fibrosis and myelofibrosis, Bristol-Myers said.

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