Pfizer acquires Therachon, a clinical stage biotech company
Therachon is developing therapies against rare gastrointestinal and musculoskeletal disorders, including developing first in class achondroplasia, a genetic condition which is a common form of short-limb dwarfism.
Pfizer has acquired all the shared of Therachon Holding AG which is developing therapies for achondroplasia and short bowel syndrome (SBS). Pfizer has paid $340 million upfront and pays $470 million while achieving the key milestones.
TA-46 is the leading compound, is soluble recombinant human fibroblast growth factor receptor 3 (FGFR3) decoy. The mechanism of action is believed to normalize the overactive FGFR3 signaling pathways. TA-46 has received orphan designation from the US FDA and the European Medical Agency. It has completed a Phase 1 trial.
Therachon will spin-off its apraglutide development into a different company. Apraglutide is a GLP-2 analog which is in Phase 2 study, targeted for the treatment of short bowel syndrome.