Outpost Medicine, a newly formed biopharmaceutical company focused on the development of new treatments of urologic and gynecologic diseases and disorders, completed a $41m financing.
The round was led by Frazier Healthcare Partners with participation from Adams Street Partners, Novo A/S, and Vivo Capital.
The company, formed by Takeda Pharmaceutical Company Limited (TOKYO:4502) and Frazier Healthcare Partners, is led by Chairman and co-founder Tachi Yamada, M.D., and interim Chief Executive Officer and co-founder David Socks, both venture partners with Frazier Healthcare Partners.
In exchange for undisclosed financial terms, Takeda has also granted an exclusive license to Outpost for the worldwide development and commercialization rights to OP-233 (formerly TAK-233), a clinical-stage product candidate being studied for the treatment of stress urinary incontinence, which occurs when physical movement or activity, such as coughing, sneezing, laughing, exercise, or heavy lifting put physical stress on weakened urethral sphincter or pelvic floor muscles resulting in unintentional loss of urine.
Joining Yamada and Socks on the Outpost board of directors are:
– Dan Estes, Ph.D., Principal of Frazier Healthcare Partners,
– Terry Gould, Partner and Head of Direct Investments of Adams Street Partners,
– Peter Bisgaard, Senior Partner of Novo Ventures (US) Inc., and
– Chen Yu, M.D., Managing Partner of Vivo Capital.