Bristol-Myers Squibb has landed the rights to buy out Lexington, MA-based Promedior, paying $150 million upfront and committing a total of $1.25 billion to the deal--if the biotech's fibrosis drug comes through in Phase II studies.
Just a couple of months after Promedior lined up its $21.5 million D round for fibrosis drug work, a new CEO has stepped up to the helm with plans to abandon Philadelphia and head for the bustling biotech hub in Boston.
Right on schedule, Malvern, PA-based Promedior has landed a $21.5 million D round to advance its lead drug for a rare fibrotic ailment.
Malvern, PA-based Promedior has lined up a fresh $12 million injection of venture cash to get its lead drug into mid-stage trials for inflammatory and fibrotic diseases. And the developer burnished