Grunen­thal snags a PhI­II-ready or­phan drug in Thar Phar­ma buy­out

Thar Phar­ma­ceu­ti­cals won’t be push­ing ahead with its IPO af­ter all. The Pitts­burgh-based biotech is get­ting bought out by Ger­many’s Grunen­thal, which was at­tract­ed to the deal by Thar’s lead­ing pro­gram, the Phase III-ready rare dis­ease drug T121.

Thar out­lined its case to in­vestors in its S-1, spot­light­ing a move to take an IV-for­mu­lat­ed drug and make it in­to a pill for a rare con­di­tion called com­plex re­gion­al pain syn­drome, or CRPS.

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