Pfizer: buys Swiss biotech firm Therachon
(CercleFinance.com) - US biopharmaceuticals giant Pfizer said on Wednesday that it will buy Therachon, a Swiss biotechnology firm that focuses on rare diseases.
Under the terms of the deal, Pfizer will acquire the privately-held company for 340 million dollars upfront, with 470 million dollars in additional payments.
The final sum will depend on the achievement of milestones in the development of Therachon's experimental treatment for achondroplasia, a genetic condition that causes short-limbed dwarfism, the drugmaker said.
Prior to the closing of the transaction, Therachon plans to spin-off its short bowel syndrome drug development program into a separate, independent company, Pfizer noted.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Under the terms of the deal, Pfizer will acquire the privately-held company for 340 million dollars upfront, with 470 million dollars in additional payments.
The final sum will depend on the achievement of milestones in the development of Therachon's experimental treatment for achondroplasia, a genetic condition that causes short-limbed dwarfism, the drugmaker said.
Prior to the closing of the transaction, Therachon plans to spin-off its short bowel syndrome drug development program into a separate, independent company, Pfizer noted.
Copyright (c) 2019 CercleFinance.com. All rights reserved.