Pfizer Inc. introduced the successful completion of its acquisition of the privately-held clinical-stage biotechnology firm Therachon Holding AG. Under the terms of the deal, Pfizer acquired Therachon for $340 million with an extra $470 million in additional payments unforeseen on the achievement of critical milestones within the improvement and commercialization of TA-46. TA-46 is an investigational medicine for the treatment of achondroplasia – a genetic condition, and the most typical type of short-limb dwarfism. There are presently no approved therapy options for achondroplasia.
Therachon becoming a part of Pfizer is representative of our Rare Disease team’s 30-year dedication to developing modern medicines that address significant unmet medical needs of individuals with rare diseases, stated Seng Cheng, Senior Vice President and Chief Scientific Officer at Pfizer’s Rare Disease Research Unit. “With our main scientific and development capabilities, we imagine we will successfully advance the event of TA-46, which has the potential to be a first-in-class remedy for the treatment of achondroplasia.”
The transaction is just not anticipated to affect Pfizer’s present 2019 adjusted financial guidance.
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