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The com­pa­ny, which is be­ing run by Fra­zier ven­ture part­ner David Socks as in­ter­im chief, has al­so se­cured a $50 mil­lion term loan fa­cil­i­ty with Sil­i­con Val­ley Bank.The “1849” SOUVENIR MINT Salesboard, Concession Men, Agents, Wanted At Once Phath­om has com­plet­ed a $90 mil­lion pri­vate fi­nanc­ing led by Fra­zier, with in­vest­ments from Medicxi, RA Cap­i­tal Man­age­ment, Abing­worth, cer­tain ac­counts man­aged by Janus Hen­der­son In­vestors, BVF Part­ners LP, Green­spring As­so­ci­ates, Richard King Mel­lon Foun­da­tion, Sah­sen Ven­tures and undis­closed in­sti­tu­tion­al in­vestors. Take­da, which in 2017 saw 21.6% of its rev­enue growth come from its GI port­fo­lio, will al­so con­tin­ue to mar­ket Vono­prazan in sev­er­al Asian mar­kets (Malaysia, Philip­pines, Sin­ga­pore, South Ko­rea, Tai­wan and Thai­land) where it has launched. While Phath­om has in-li­censed the drug from Take­da for the de­vel­op­ment and ex­clu­sive com­mer­cial­iza­tion rights to Vono­prazan in North Amer­i­ca and Eu­rope - Take­da and Ot­su­ka will con­tin­ue to co-pro­mote the drug in Japan.

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The drug - which is de­signed to over­come many of the per­ceived weak­ness­es of tra­di­tion­al pro­ton pump in­hibitor ther­a­py (such as short half-life, re­quir­ing 3–5 cy­cles of ad­min­is­tra­tion be­fore achiev­ing full ef­fect) - was ap­proved in 2015 by Japan­ese reg­u­la­tors for var­i­ous GI con­di­tions in­clud­ing gas­tric and duo­de­nal ul­cers as well as H. Vono­prazan is a P-CAB - a class of drugs that blocks the potas­si­um-bind­ing site of gas­tric hy­dro­gen potas­si­um AT­Pase (al­so known as the pro­ton pump), which is the en­zyme large­ly re­spon­si­ble for acid­i­fi­ca­tion of the stom­ach - dis­cov­ered and de­vel­oped by Take­da.

The com­pa­ny - new­ly merged with Shire - is thus farm­ing out the ex-Japan de­vel­op­ment of its acid-fight­er Vono­prazan to a com­pa­ny it has cre­at­ed with the ven­ture part­ners at Fra­zier: Phath­om Phar­ma­ceu­ti­cals. With four­teen gas­troen­terol­o­gy as­sets in its pipeline, Take­da $TAK has its hands full.