Therachon spin-off launches with $35 million investment

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09.01.2020
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Therachon was acquired by Pfizer Inc. in 2019 for up to $810 million. Therachon's former chief executive officer, chief financial officer, chief medical officer and chief business officer will now be part of the executive team of the newly formed VectivBio.

VectivBio, a clinical-stage biotechnology company, is bringing transformational medicines to patients with serious rare diseases. The company announced its formation with $35 million in financing including commitments by Versant Ventures, OrbiMed, Novo Holdings, BPI France, Tekla Healthcare Investors, Inserm Transfer Initiative and Cowen Healthcare Investments.

VectivBio's lead program, apraglutide, is a next-generation GLP-2 analog for the treatment of short bowel syndrome (SBS). An estimated 35,000 people are thought to suffer from SBS in the U.S. and Europe. Patients with severe SBS require lifelong intravenous delivery of essential nutrients, referred to as parenteral support, for survival. Apraglutide aims to increase the intestine's ability to absorb fluids and nutrients, thereby minimizing the burden of parenteral support. Topline results from two Phase 2 studies of apraglutide in SBS patients are expected by the end of the first quarter of 2020.

"We are thrilled to launch VectivBio and are committed to continue our quest of bringing transformational medicines to patients living with serious rare diseases," said Luca Santarelli, M.D., chief executive officer of VectivBio and former chief executive officer of Therachon. "Rare diseases remain an area of significant unmet medical need, where our team's proven track record and entrepreneurial mindset will enable us to have a positive impact."

"I am excited to continue to work with the former Therachon team," said Tom Woiwode, Ph.D., managing director at Versant Ventures and chairman of the board of directors at VectivBio. "Neglected conditions like short bowel syndrome represent tremendous opportunities to innovate and provide patients with much needed therapies, and with the support of our investors, the VectivBio team has all the expertise to advance our lead program, apraglutide, as a potential best-in-class treatment for this condition."

(Press release)

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