Terachon advancing lead programme after raising $60m

Terachon advancing lead programme after raising $60m
Credit: Shutterstock.com/ Julia Sudnitskaya

Therachon, a Swiss biotech focused on rare diseases, has completed a $60 million mezzanine financing which it will use to advance its lead pipeline candidate, TA-46.

TA-46 is a novel protein therapeutic for achondroplasia, the most common form of disproportionate short stature in humans, as well as to support the expansion of its rare disease pipeline.

It is being developed as a weekly subcutaneous therapy for children and adolescents living with achondroplasia.

Therachon is currently conducting a Phase 1 randomised, placebo-controlled, double-blind trial to evaluate the safety, tolerability and pharmacokinetics of single and multiple increasing doses of TA-46 in healthy volunteers.

The financing was led by Novo Holdings and joined by new investors Cowen Healthcare Investments, Pfizer Ventures and funds managed by Tekla Capital Management.

Existing investors Versant Ventures, OrbiMed, Bpifrance and Inserm Transfert Initiative also participated.

In conjunction, Jørgen Søberg Petersen, venture partner at Novo Holdings, and Timothy Anderson, Director at Cowen Healthcare Investments, have been appointed members of Therachon’s Board of Directors.