Roche’s $1.39 Billion Acquisition Of Promedior

Davis Polk advised Roche on its acquisition of Promedior, Inc.

Under the terms of the merger agreement, 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.

The closing of the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.

With this acquisition, Roche will obtain full rights to Promedior’s entire portfolio of molecules for serious fibrotic diseases, notably PRM-151.

Roche (SIX: RO, ROG;OTCQX: RHHBY) is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives.

Promedior is a privately held clinical stage biotechnology company pioneering the development of targeted therapeutics to treat diseases involving fibrosis.

The Davis Polk corporate team included partner Brian Wolfe (Picture) and associate Abigail G. Hathaway. Partner David R. Bauer and associate Gianna C. Walton are providing intellectual property and technology advice. Partner Veronica M. Wissel is providing executive compensation advice. Partner Ronan P. Harty is providing antitrust and competition advice. Partner Michael Mollerus is providing tax advice.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Ronan Harty – Davis Polk & Wardwell; Abigail Hathaway – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Gianna Walton – Davis Polk & Wardwell; Veronica Wissel – Davis Polk & Wardwell; Brian Wolfe – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Roche Holding AG ;

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Author: Ambrogio Visconti