Takeda Pharmaceutical Company Limited and Frazier Healthcare Partners have formed Outpost Medicine, a biopharmaceutical company focused on the development of new treatments of urologic and gynecologic diseases and disorders.

In exchange for undisclosed financial terms, Takeda has 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.

In connection with the license, Outpost has completed a $41 million financing led by Frazier Healthcare Partners and including Adams Street Partners, Novo A/S, and Vivo Capital. Joining Tachi Yamada and David 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.

Source: Takeda Pharmaceutical