Therachon nets $60m mezzanine from Novo et al.

Established in 1999, Novo Holdings is the holding company of Denmark's Novo Group and manages the Novo Nordisk Foundation's investment assets. It was joined in this round of funding by new backers Cowen Healthcare Investments, Pfizer Ventures and funds managed by Tekla Capital Management.

Existing investors Versant Ventures, OrbiMed, BPI France and Inserm Transfert Initiative also supported Therachon on this occasion.

The company will use the fresh funding to advance its lead pipeline candidate TA-46, a protein for treating achondroplasia (disproportionate short stature in humans), as well as to support the expansion of its rare disease pipeline, it said in a statement.

Previous funding
Therachon (then based in France) raised $35m in a series-A round from OrbiMed and New Enterprise Associates, as well as existing backers Inserm and Versant, in 2015. The series-A was led by New York-headquartered OrbiMed. Inserm and Versant had been shareholders in Therachon since providing seed capital to the business in 2014.

Company
Founded in 2014, Therachon is headquartered in Basel and operates a laboratory in Nice. Still at the clinical stage, it develops treatments for achondroplasia, a genetic condition weakening bone and cartilage development in children.

People
Therachon – Luca Santarelli (CEO).

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• Topics
• Early-stage
• Healthcare
• DACH
• Venture
• Switzerland
• BPI France