Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Pfizer CSO Mikael Dolsten: 'By acquiring Therachon, we hope to leverage Pfizer's leading scientific and development capabilities to more rapidly advance this…
TA-46 is a recombinant FGFR3 decoy administered weekly subcutaneously; Pfizer to compete directly with BioMarin's vosoritide which has 'caught analysts' eyes'…
Phase 2 study of recifercept in children with achondroplasia. Overall status: TERMINATED. Why stopped: 'The study was terminated due to lack of efficacy at any…
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Pfizer agreed to acquire Swiss clinical-stage biotech Therachon Holding AG for $340M upfront plus up to $470M in development milestones (~$810M total); announced 13-Feb-2019 and closed 1-Jul-2019. The lead asset, TA-46 (later named recifercept), is a soluble recombinant human FGFR3 decoy designed to sequester FGF ligands extracellularly and normalize overactive FGFR3 signaling in achondroplasia — a mechanism distinct from BioMarin's CNP-analog vosoritide (VOXZOGO). Pfizer divested Therachon's secondary FGF21 short-bowel-syndrome program back to the founders. The thesis ultimately did not pan out: Pfizer's Phase 2 study of recifercept in children (NCT04638153) was terminated on 18-Nov-2022 for lack of efficacy at all tested doses (not a safety concern), and Pfizer formally discontinued the recifercept achondroplasia program on 31-Jan-2023 amid a broader pipeline thinning — leaving BioMarin's VOXZOGO uncontested among approved achondroplasia therapies.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pfizer Inc. / Therachon Holding AG (this deal) | 2019 | $810M | — |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Pfizer Inc. / Medivation Inc. | 2016 | $14.0B | 86 |
| Pfizer Inc. / Wyeth | 2009 | $68.0B | 86 |
| Pfizer Inc. / Warner-Lambert Company | 2000 | $90.0B | 83 |
| Pfizer Inc. / Arvinas, Inc. | 2021 | $2.4B | 77 |
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