Pharmaceutical manufacturing company Roche, completed the acquisition of Promedior, a privately held biotechnology company pioneering the development of targeted medicines to treat fibrosis, for $1.39bn. Roche obtained full rights to Promedior's entire portfolio of molecules for serious fibrotic diseases, notably PRM-151. Under the terms of the merger agreement, Roche made an upfront cash payment of $390m, with additional contingent payments of up to $1bn to be made based on the achievement of certain predetermined development, regulatory and commercial milestones. "We're excited to announce the close of the Roche acquisition and to join the Roche Group. We look forward to being part of Roche to further advance programs in IPF, hematological cancer, and other fibrotic disorders and bring new treatment options to patients within these areas of significant unmet need," Jason Lettmann, Promedior CEO.