Pathalys inks development deal with Abingworth company, raising $150M
Pathalys Pharma, a private biotech co-founded by Japanese VC Catalys Pacific and DaVita Venture Group in late 2020 to focus on chronic kidney disease, announced Wednesday morning it reached a deal with Launch Therapeutics to advance two Phase III trials for a drug designed to treat a parathyroid condition for hemodialysis patients. The drug is called upacicalcet, also known as PLS240.
As part of the deal, Pathalys also raised $150 million in secured product financing and equity to push upacicalcet through Phase III and to support a potential launch if it’s approved. Abingworth led the round, while Carlyle and OrbiMed joined in, as did Catalys Pacific and DaVita Venture Group.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.