Novo led a $60m series B round yesterday for Therachon, a Switzerland-based developer of treatments for rare genetic conditions, that included fellow pharmaceutical firm Pfizer’s corporate venturing unit, Pfizer Ventures.
The round also featured Inserm Transfert Initiative, the investment arm of research institute Inserm, as well as Bpifrance, Cowen Healthcare Investments, Versant Ventures, OrbiMed and funds managed by Tekla Capital Management.
Founded in 2014, Therachon is working on treatments for rare diseases. Its lead candidate, TA-46, targets achondroplasia, a bone growth disorder that leads to disproportionate dwarfism.
TA-46 is currently in a phase 1 clinical trial in healthy individuals. The drug, which is expected to be administered as a weekly subcutaneous therapy for children and adolescents, is expected to enter treatment studies in children affected with achondroplasia in 2019.
Therachon’s technology is based on research conducted by Elvire Gouze, a senior researcher at Inserm and University of Nice Sophia Antipolis.
The series B proceeds will fund additional resources for the phase 1 trial and help Therachon develop additional drug candidates. Jørgen Søberg Petersen, venture partner at Novo, and Cowen director Timothy Anderson have joined its board of directors.
Therachon closed a $40m series A round in January 2017 after securing a $5m extension from Bpifrance, following a $35m first tranche led by OrbiMed and backed by Inserm Transfert Initiative, New Enterprise Asscociates and Versant in 2015.
– The original version of this article appeared on our sister website, Global University Venturing.