Bristol-Myers Squibb Company / Promedior, Inc.

Idiopathic pulmonary fibrosis (IPF) and myelofibrosis

35K US cases/yr · $3.7B Global IPF treatment market 2024 ($3.68B; ~37.5% North America)

Disease Overview

Idiopathic pulmonary fibrosis is a chronic, progressive, fatal interstitial lung disease characterized by scarring of lung tissue, primarily affecting adults over 65 with a median survival of 3-5 years from diagnosis if untreated. Myelofibrosis is a rare bone marrow disorder in which scarring impairs hematopoiesis, producing anemia, splenomegaly, and elevated thrombosis risk. Both diseases share a common fibrotic biology that PRM-151 (recombinant human pentraxin-2) was designed to target by polarizing macrophages away from a profibrotic phenotype.

Competitive Landscape

At the time of the 2015 BMS option deal, the IPF treatment landscape had just been transformed by the October 2014 FDA approvals of pirfenidone (Esbriet, Roche/InterMune) and nintedanib (Ofev, Boehringer Ingelheim), the first two antifibrotics shown to slow forced vital capacity decline. Both drugs slowed disease progression but did not halt or reverse fibrosis, leaving substantial unmet need that PRM-151 was positioned to address through a complementary anti-fibrotic mechanism. In myelofibrosis, ruxolitinib (Jakafi, Incyte) was the only approved JAK inhibitor and addressed splenomegaly and constitutional symptoms but not the underlying fibrosis. BMS allowed the option to expire in 2019 without exercise. Roche subsequently acquired Promedior in February 2020 for up to $1.4B ($390M upfront + up to $1B milestones), folding PRM-151 into its IPF franchise alongside Esbriet. Pirfenidone has since dominated the IPF market with a 43% share in 2024 (Grand View Research), while nintedanib continues at ~7.84% CAGR. The global IPF market reached $3.68B in 2024.