Pfizer will pay $340m upfront and up to an additional $470m in milestone payments to purchase its portfolio company Therachon, providing an exit to Inserm Transfert Initiative.
Therachon, a Switzerland-based biotechnology developer focused on rare genetic disorders backed by medical research institute Inserm, yesterday agreed to an acquisition by pharmaceutical firm Pfizer for up to $810m.
Pfizer will pay $340m upfront and up to $470m in additional milestone payments related to the development of Therachon’s lead asset, TA-46, a treatment for a bone growth disorder called achondroplasia that causes disproportionate dwarfism.
Founded in 2014, Therachon is developing therapies for rare genetic diseases such as achondroplasia, a disease that can lead to serious cardiovascular, neurological and metabolic complications. Achondroplasia affects approximately 250,000 people worldwide.
TA-46 is being developed as a weekly subcutaneous injection for children and adolescents. The drug candidate has completed phase 1 trials and secured orphan drug designation from the US and EU regulators.
As part of the acquisition, Therachon has established a spinout that will drive the development of apraglutide, its…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
