3 Firms Steer New Takeda, Frazier Biopharma Venture

By Matthew Guarnaccia (May 15, 2019, 4:38 PM EDT) -- Pharmaceutical giant Takeda on Wednesday said it is teaming up with Frazier Healthcare Partners to create a biopharmaceutical firm focused on gastrointestinal issues, with the Gunderson Dettmer-led venture capital firm leading the way on a $90 million financing for the new venture.

Steered on the deal by Ropes & Gray LLP, Takeda Pharmaceutical Co. Ltd. said its collaboration with Menlo Park, California-based Frazier is called Phathom Pharmaceuticals.

As part of the venture, Takeda agreed to give Latham & Watkins LLP-led Phathom control of development and exclusive commercialization rights for an acid blocker known as vonoprazan. Takeda received an unspecified amount of...

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