Pharmaceutical and biotechnology company Roche Holding AG (VTX: ROG) will purchase Adheron Therapeutics for up to $580 million from venture capital firms that include Health Care Ventures, MedImmune Ventures, Amgen Ventures, SROne and Partners Innovation Fund. Adheron, based Berkeley, California, develops experimental drugs that are used to treat rheumatoid arthritis and fibrosis.
Roche is not new to the rheumatoid arthritis area. In 2014, Roche's RoActemra drug won European approval. Adheron will give Roche a new research pipeline in rheumatoid arthritis and fibrosis.