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Pharmaceuticals

BMS Gets Rights To Promedior Drug

by Ann M. Thayer
September 7, 2015 | APPEARED IN VOLUME 93, ISSUE 35

Bristol-Myers Squibb could pay up to $1.25 billion to acquire Lexington, Mass.-based Promedior and its lead product candidate, PRM-151, a recombinant form of human pentraxin-2 protein. Fast-tracked and given orphan drug designation, PRM-151 is in development for the treatment of idiopathic pulmonary fibrosis and myelofibrosis. BMS will pay $150 million in cash for the right to acquire Promedior and to support Phase II clinical development of PRM-151. BMS could pay more than $1 billion more to exercise its rights and for clinical and regulatory milestone payments.

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