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Therachon raises $60M in Novo Holdings-led financing, adds directors

Switzerland-based Therachon AG closed $60 million in a mezzanine financing.

The financing was led by Novo Holdings A/S. New investors include 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 the fundraising.

Therachon is using the proceeds to develop its lead pipeline candidate TA-46 for treating achondroplasia — a bone growth disorder that causes dwarfism — and to expand its rare disease pipeline. The company is conducting a phase 1 study evaluating TA-46 in healthy volunteers.

In connection with the funding, Therachon also added Jørgen Petersen and Timothy Anderson to its board of directors. Petersen is a venture partner at Novo Holdings while Anderson is a director and co-founder of Cowen Healthcare Investments.