4:10 AM
May 08, 2019
 |  BC Extra  |  Company News

Why dwarfism start-up Therachon picked Pfizer takeout over IPO

At the cusp of seeking a public listing, Therachon Holding chose $340M deal with Pfizer and the chance to spin out a new company

Editor's Note: This article was updated on May 08, 2019 at 5:23 AM PDT

Rather than file for an IPO as it had been planning to do, Therachon has elected to take a buyout offer from Pfizer, handing the pharma a clinical program to treat achondroplasia. Pfizer will pay $340 million up front for the biotech; its shareholders are eligible for $470 million in milestones.

Seeded by Versant Ventures in 2014, Therachon Holding AG (Basel, Switzerland) raised $100 million across two venture rounds. In August 2018, Novo Holdings led a $60 million round Therachon described as a mezzanine funding; Pfizer Ventures also participated in that round.

Therachon's TA-46...

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