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Fundraisings and IPOs

Date: 2017-01-05

Type of information: Series A financing round

Company: Therachon (France)

Investors: OrbiMed (USA - NY) New Enterprise Associates (NEA) (USA - MD) Inserm Transfert Initiative (ITI) (France) Versant Ventures (USA - CA) Bpifrance (France)

Amount: $ 40 million

Funding type: series A financing round

Planned used: Therachon is developing an innovative therapy for achondroplasia, the leading cause of dwarfism in humans. Therachon’s therapy aims to restore normal bone growth and proportions in children with the disease. The funds will be used to advance its lead program, a soluble form of human fibroblast growth factor receptor 3, through clinical proof of concept.

Others:

  • • On January 5, 2017, Therachon announced it has raised $5 million in the final close of its Series A financing. The Series A now stands at $40 million and includes founding investors Versant Ventures and Inserm Transfer Initiative (ITI), existing investor OrbiMed and new investor Banque publique d’investissement (Bpifrance). In connection with the financing, Bpifrance’s Chahra Louafi has joined the company’s Board of Directors.
  • • On September 29, 2015 ,Therachon announced that it closed a $35 million Series A round. OrbiMed led the Series A financing and was joined by New Enterprise Associates (NEA), along with existing investors Inserm Transfert Initiative (ITI) and Versant Ventures that seeded Therachon in 2014. Joining the Board of Directors are Stephen Squinto, PhD, venture partner at OrbiMed, and Sara Nayeem, M.D., Principal at NEA. “This financing validates the work we have been doing at Inserm for the last six years," said Elvire Gouze, PhD, a senior researcher at Inserm and the University of Nice SophiaAntipolis and Therachon's founder and scientific advisor. "We have discovered a novel protein therapy that has restored normal skeletal growth and reduced co-morbidities in animal models of the disease. If we can show the same effects in humans, this could dramatically improve the lives of achondroplasia patients.”
 

Therapeutic area: Rare diseases - Genetic diseases

Is general: Yes