VC-backed GLyPharma Therapeutic acquired by Therachon
Swiss clinical-stage biotechnology company Therachon AG has acquired GLyPharma Therapeutic Inc, a Montréal-based developer of a drug for short bowel syndrome and other rare gastrointestinal diseases. Terms weren't disclosed. With the deal, Therachon acquires the rights to apraglutide, originally discovered by Ferring Pharmaceuticals and licensed to GLyPharma. Since its launch in 2012, GLyPharma has been backed by Canadian life sciences venture capital firm CTI Life Sciences Fund, Ferring and Fonds de solidarité FTQ. In August, Therachon raised a US$60 million financing led by Novo Holdings and joined by multiple other investors.
10 October 2018•3 mins read
