Continuing its preference for option-based deal structures, Bristol-Myers Squibb (BMS) has secured the right to acquire privately held Promedior in a deal potentially worth up to US$1.25 B. Promedior’s lead asset is PRM-151, an antifibrotic immunomodulatory therapy that is being evaluated in Phase II clinical trials for idiopathic pulmonary fibrosis and myelofibrosis. BMS can exercise its right to acquire Promedior upon completion of either of these trials. The deal is BMS’ fourth in the area of fibrotic diseases within the space of a year.