Therachon AG, a clinical-stage biotechnology company focused on treating root causes of rare conditions, today announced the acquisition of GLyPharma Therapeutic Inc. for an undisclosed amount. This transformational deal marks Therachon’s evolution to a multi-asset rare disease company by adding apraglutide, a next-generation synthetic GLP-2 analog targeting short bowel syndrome and other devastating rare G.I. diseases. The transaction comes on the heels of a $60 million mezzanine financing led by Novo Holdings.
“Expanding our pipeline with this new asset supports our mission of harnessing internal and external scientific innovation to make a difference in the lives of people living with serious rare conditions,” said Luca Santarelli, M.D., chief executive officer at Therachon. “Like achondroplasia, our other area of focus, people living with SBS have significant unmet medical needs. We believe apraglutide offers a potential best-in-class profile for efficacy, as well as a favorable dosing regimen and improved tolerability compared with other GLP-2 analogs.”
Under the agreement, Therachon has acquired the exclusive development and commercialization rights to apraglutide, originally discovered by Ferring Pharmaceuticals and exclusively licensed to GLyPharma in 2012.
“This is an exciting time for Therachon as we continue to identify and advance best-in-disease therapies for rare conditions with significant unmet medical need through both internal R&D and selected acquisitions,” said Behrad Derakhshan, Ph.D., head of business development.
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Date: October 15, 2018
Source: Cision