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…

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