The firm will develop and commercialise therapies for the treatment of gastrointestinal (GI) diseases and disorders.
Phathom Pharmaceuticals has obtained a licence from Takeda featuring exclusive commercialisation rights to vonoprazan in the US, Europe and Canada.
In turn, Takeda will receive upfront cash and equity payments, along with future milestone payments and royalties on net sales. Phathom has already made a $90m crossover financing and $50m debt facility in connection with the licence.
The $90m financing was led by Frazier Healthcare Partners with investments from Medicxi, RA Capital Management and Abingworth.
The round was also joined by accounts managed by Janus Henderson Investors, BVF Partners LP, Greenspring Associates, Richard King Mellon Foundation, Sahsen Ventures and other undisclosed institutional investors.
Phathom Pharmaceuticals interim CEO David Socks said: “We welcome their support in our efforts to advance vonoprazan, a next-generation therapeutic with the potential to make a profound impact on the lives of patients with acid-related gastrointestinal disorders.”
Discovered and developed by Takeda, vonoprazan is an oral potassium-competitive acid blocker (P-CAB) that competitively limits the potassium-binding site of gastric hydrogen potassium ATPase enzymes, which are known to be involved in acidification of the stomach.
In Asian and Latin American countries, vonoprazan is indicated to treat gastroesophageal reflux disease (GERD), the gastric and duodenal ulcers that occur following Helicobacter pylori infection, and low-dose aspirin-associated ulcers.
In the US, Europe and Canada, the drug is undergoing Phase III clinical development programmes for GERD and Helicobacter pylori infection.
Takeda gastroenterology therapeutic area unit head Asit Parikh said: “Phathom’s skilled leadership, with deep expertise in acid-related disorders, positions them well to expand access to vonoprazan in North America and Europe while Takeda continues to leverage its presence in Japan and several Asian markets.”
Takeda will promote vonoprazan in Japan in partnership with Otsuka.
Furthermore, Takeda will continue marketing the drug in multiple Asian markets, including Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.