Newly-formed Swiss biotech to take on apraglutide program
The former executive team of Swiss biotech Therachon has founded a new company, VectivBio, with $35 million in financing to target serious rare diseases.
In May 2019, US pharma giant Pfizer (NYSE: PFE) agreed to buy Therachon, which was developing treatments for achondroplasia and short bowel syndrome (SBS), for $340 million upfront plus up to $470 million in milestones.
As part of the deal, Therachon spun out its apraglutide development program, a candidate the firm picked up through its 2018 acquisition of Canada-based GLyPharma Therapeutic. Phase II data from the program were presented in May 2019.
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