ARTICLE | 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
May 8, 2019 11:10 AM UTC
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...