Clinical-stage biotechnology firm Promedior bought by Roche

Roche has agreed to purchase Promedior, a clinical-stage biotechnology company based in the United States, in a transaction estimated at $1.39 billion.

According to the terms of the merger contract, Promedior must receive an upfront cash payment of $390 m, as well as potential contingent payments of up to $1bn based on some specified growth, regulatory and commercial milestones being achieved.

Based in Lexington, Massachuse....