Phathom Pharmaceuticals’ $260 Million Financing Agreement

Morgan Lewis advised Phathom Pharmaceuticals Inc. in the transaction.

Phathom Pharmaceuticals Inc. announced a revenue interest financing agreement for $260 million in non-dilutive capital. The agreement provides for an upfront $100 million cash payment and an additional $160 million cash payment upon US Food and Drug Administration approval of Phathom’s investigational product, vonoprazan, for the treatment of erosive esophagitis.

Phathom is a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases.

Morgan Stanley & Co. LLC acted as sole structuring agent on the transaction.

The Morgan Lewis team included partners Conor Larkin (Picture) and Greg Hartker, and associates Matthew Riehle and Anjali Deshpande.

Involved fees earner: Anjali Deshpande – Morgan Lewis & Bockius; Gregory Hartker – Morgan Lewis & Bockius; Conor Larkin – Morgan Lewis & Bockius; Matthew Riehle – Morgan Lewis & Bockius;

Law Firms: Morgan Lewis & Bockius;

Clients: Phathom Pharmaceuticals;