Under the terms of the deal, Pfizer acquired Therachon for 340 million dollars with an additional 470 million dollars for the achievement of vital milestones in the development and commercialisation of TA-46.
USA – Pfizer has recently announced the successful completion of its acquisition of the privately held clinical-stage biotechnology company Therachon Holding. Under the terms of the transaction, Pfizer acquired Therachon for 340 million dollars with an additional 470 million dollars in additional payments contingent on the achievement of key milestones in the development and commercialisation of TA-46. TA-46 is an investigational medicine for the treatment of achondroplasia, a genetic condition and the most common form of short-limb dwarfism. There are currently no approved treatment options for achondroplasia.
“Therachon becoming part of Pfizer is representative of our Rare Disease team’s 30-year commitment to develop innovative medicines that address significant unmet medical needs of people with rare diseases,” said Seng Cheng, Senior Vice President and Chief Scientific Officer of Pfizer’s Rare Disease Research Unit. “With our leading scientific and development capabilities, we believe we can effectively advance the development of TA-46, which has the potential to be a first-in-class therapy for the treatment of achondroplasia.”
The transaction is not expected to impact Pfizer’s current 2019 adjusted financial guidance.