Takeda is set to emerge with almost 26% of Phathom Pharmaceuticals, which has licensed one of its gastrointestinal disease drugs, and which is targeting $158m.

Phathom Pharmaceuticals, a US-based gastrointestinal disease drug startup backed by pharmaceutical company Takeda, has set the terms for an initial public offering that could raise up to $158m. The company intends to issue 7.9 million shares on the Nasdaq Global Market priced between $18 and $20 per share, placing the offering’s potential size at $142m…

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