Pfizer buys a rare disease biotech for $340M-plus, putting them on a path to compete with BioMarin
Pfizer is back in the dealmaking business. And this time they’re focused on building up their portfolio of rare disease drugs with a buyout.
After an unusual quiet period on the dealmaking front, the pharma giant has struck an $810 million pact to buy Therachon, a private Swiss biotech, for its experimental therapy to treat dwarfism. And the acquisition makes them a rival to BioMarin, which has been attracting considerable attention for its own drug in the field.
The pharma giant is paying $340 million upfront plus $470 million more for milestones to nab TA-46 for the treatment of achondroplasia. The drug is an FGFR3 decoy which they believe will correct a signaling pathway that triggers abnormal bone growth associated with achondroplasia. And Pfizer execs are picking it up with Phase I proof-of-concept data in hand.
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