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.

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