M&A Deal Summary

Roche Acquires Promedior

On November 15, 2019, Roche acquired life science company Promedior from Easton Capital Investment Group and MPE Partners for 1.4B USD

Acquisition Highlights
  • This is Roche’s 24th transaction in the Life Science sector.
  • This is Roche’s 10th largest (disclosed) transaction.
  • This is Roche’s 23rd transaction in the United States.
  • This is Roche’s 5th transaction in Massachusetts.

M&A Deal Summary

Date 2019-11-15
Target Promedior
Sector Life Science
Buyer(s) Roche
Sellers(s) Easton Capital Investment Group
MPE Partners
Deal Type Merger
Deal Value 1.4B USD

Target

Promedior

Lexington, Massachusetts, United States
Promedior, Inc. is a clinical-stage biotechnology company pioneering the development of targeted therapeutics to treat diseases involving fibrosis. Fibrosis is a harmful process that occurs in many diseases, when normal healthy tissue is replaced with scar tissue, compromising function and ultimately leading to organ failure. Promedior focused on rare fibrotic diseases, including idiopathic pulmonary fibrosis and myelofibrosis. Promedior, Inc. was founded in 2006 and is based in Lexington, Massachusetts.

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Buyer(S) 1

Buyer

Roche

Basel, Switzerland

Category Company
Founded 1896
Sector Life Science
Employees100,920
Revenue 60.4B CHF (2023)
DESCRIPTION
Roche's corporate headquarters in Basel, Switzerland.
Roche's corporate headquarters in Basel, Switzerland.

Roche is a research-focused healthcare company focused on pharmaceuticals and diagnostics. Roche offers differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and neuroscience. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. Roche was founded in 1896 and is based in Basel, Switzerland.


DEAL STATS #
Overall 36 of 42
Sector (Life Science) 24 of 29
Type (Merger) 2 of 4
State (Massachusetts) 5 of 5
Country (United States) 23 of 28
Year (2019) 3 of 3
Size (of disclosed) 10 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 Foundation Medicine

Cambridge, Massachusetts, United States

Foundation Medicine, Inc. is a molecular information company dedicated to a transformation in cancer care in which treatment is informed by a deep understanding of the genomic changes that contribute to each patient's unique cancer.

Buy $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-22 Stratos Genomics

Seattle, Washington, United States

Stratos Genomics, Inc. is an early-stage sequencing technology company focused on making the next generation of DNA sequencing (Sequencing by Expansion) possible by combining cutting-edge biochemistry, chemistry, physics, and engineering. SBX is a simple, elegant, single-molecule detection process that circumvents the limitations of competing technologies, allowing accurate, ultra-low-cost whole-genome sequencing. Stratos Genomics was formed in 2007 and is based in Seattle, Washington.

Buy -

Seller(S) 2

SELLER

Easton Capital Investment Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 2000
PE ASSETS 200M USD
Size Small
Type Sector Focused
DESCRIPTION

Easton Capital Investment Group is a private investment firm that targets early-stage venture capital to later-stage growth capital investments. Easton will consider opportunities across a range of industries but generally invests in the healthcare industry, including biopharmaceuticals, drug delivery, medical devices, and healthcare services. Easton looks to commit $0.50 to $10 million per transaction. Easton Capital was formed in 2000 and is based in New York.


DEAL STATS #
Overall 19 of 20
Sector (Life Science) 10 of 10
Type (Merger) 1 of 1
State (Massachusetts) 4 of 4
Country (United States) 19 of 20
Year (2019) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Biolex Therapeutics

Pittsboro, North Carolina, United States

Biolex Therapeutics is a biotechnology company with a novel platform for the development and manufacture of monoclonal antibodies and other protein therapeutics. The Company's lead product is Locteron, a controlled release interferon for hepatitis C.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-08 Achronix

Santa Clara, California, United States

Achronix Semiconductor is a privately held fabless corporation based in San Jose, California. Achronix builds the world's fastest field programmable gate arrays (FPGAs) achieving 2 GHz system performance. FPGAs are reconfigurable devices, enabling short time-to-market and field upgrades. Applications of FPGAs include communications, networking, high performance computing, digital signal processing, aerospace and defense systems, medical imaging, and a growing range of other areas.

Sell -
SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.


DEAL STATS #
Overall 53 of 58
Sector (Life Science) 10 of 10
Type (Merger) 2 of 2
State (Massachusetts) 7 of 7
Country (United States) 51 of 56
Year (2019) 3 of 3
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-06 B&E Group

Southwick, Massachusetts, United States

B&E Group is a design to production manufacturing company that serves the commercial, defense, and aerospace industries. B&E Group was founded in 1950 and is based in Southwick, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 Teel Plastics

Baraboo, Wisconsin, United States

Teel Plastics is a manufacturer of plastic components specializing in plastic extrusion and injection molding. Teel Plastics was founded in 1951 and is based in Baraboo, Wisconsin.

Buy -