The urologic and gastrointestinal disorder treatment developer has raised another $20m in its Novo and Takeda-backed series A round.

Outpost Medicine, a US-based urologic and gastrointestinal disorder drug developer, has raised $20m from investors including pharmaceutical companies Novo and Takeda Pharmaceutical, expanding its series A round to $61m in the process.

Private equity firm Adams Street Partners and investment firms Frazier Healthcare Partners and Vivo Capital also contributed to the extension, with Takeda participating through its venture capital arm, Takeda Ventures.

Outpost was launched in March 2016 as a joint venture by Takeda and Frazier to develop treatments for urologic and…