# Phathom Pharmaceuticals funding: rounds and investors > Phathom Pharmaceuticals has raised $530M across 3 rounds since 2019. Investors include Janus Henderson Investors, Hercules Capital and Frazier Healthcare... Source: https://millionrounds.com/company/phathom-pharmaceuticals (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # Who invested in *Phathom Pharmaceuticals* 3 rounds we have observed, with the 14 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Biotech Healthcare Raised 10 months ago Funding summary Updated 26 Oct 2026 **$530M** raised across 3 rounds since 2019, from 4 sources **$140M** Round **$260M** Debt **$130M** Round - **Latest round:** Round, $130M Jan 2026 - **Biggest round:** $260M Debt · May 2022 - **Investors:** 14 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2019 2020 2021 2022 2023 2024 2025 2026 **$140M** Round **$260M** Debt **$130M** Round - **First round:** Round, $140M - **Biggest round:** $260M - **Usual gap between rounds:** 3.7 years ## The rounds - **Jan 2026** Round **$130M** *2 new* *2 returning* [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) [Hercules Capital](https://millionrounds.com/fund/hercules-capital) Source recorded - **May 2022** Debt **$260M** *3 new* [Hercules Capital](https://millionrounds.com/fund/hercules-capital) [NovaQuest](https://millionrounds.com/fund/novaquest-capital-management) [Sagard Healthcare Partners](https://millionrounds.com/fund/sagard-healthcare-partners) Reported by Firms' own news pages and 1 other - **May 2019** Round **$140M** *9 new* [Frazier Healthcare Partners](https://millionrounds.com/fund/frazier-healthcare-partners) Lead [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) [Abingworth](https://millionrounds.com/fund/abingworth) [Richard King Mellon Foundation](https://millionrounds.com/fund/richard-king-mellon-foundation) [BVF Partners](https://millionrounds.com/fund/bvf-partners) [Medicxi](https://millionrounds.com/fund/medicxi) [Sahsen](https://millionrounds.com/fund/sahsen) Greenspring RA Reported by FinSMEs ## Founders and team From Phathom Pharmaceuticals's own website: 1 founder, 4 on the team. **David Socks** Co-Founder, Phathom - **Steven Basta** President & Chief Executive Officer - **Nancy Phelan** Senior Vice President, Marketing & Analytics - **Paul Cocja** Chief People Officer - **Sanjeev Narula** Chief Financial and Business Officer ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2019 **Debt** 2022 **Round** 2026 [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) [Hercules Capital](https://millionrounds.com/fund/hercules-capital) [Frazier Healthcare Partners](https://millionrounds.com/fund/frazier-healthcare-partners) L [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) [Abingworth](https://millionrounds.com/fund/abingworth) [Richard King Mellon Foundation](https://millionrounds.com/fund/richard-king-mellon-foundation) [BVF Partners](https://millionrounds.com/fund/bvf-partners) [Medicxi](https://millionrounds.com/fund/medicxi) [NovaQuest](https://millionrounds.com/fund/novaquest-capital-management) ## Everyone who backed them [Janus Henderson Investors](https://millionrounds.com/fund/janus-henderson-investors) Private equity **2** rounds [Hercules Capital](https://millionrounds.com/fund/hercules-capital) Venture debt **2** rounds [Frazier Healthcare Partners](https://millionrounds.com/fund/frazier-healthcare-partners) Private equity **1** round, led 1 [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) VC firm **1** round [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) Private equity **1** round [Abingworth](https://millionrounds.com/fund/abingworth) VC firm **1** round [Richard King Mellon Foundation](https://millionrounds.com/fund/richard-king-mellon-foundation) Private equity **1** round [BVF Partners](https://millionrounds.com/fund/bvf-partners) VC firm **1** round [Medicxi](https://millionrounds.com/fund/medicxi) VC firm **1** round [NovaQuest](https://millionrounds.com/fund/novaquest-capital-management) Private equity **1** round [Sahsen](https://millionrounds.com/fund/sahsen) Investment firm **1** round [Sagard Healthcare Partners](https://millionrounds.com/fund/sagard-healthcare-partners) Investment firm **1** round Greenspring no record of our own yet **1** round RA no record of our own yet **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=phathom-pharmaceuticals). ## Also claim to have backed them This firm lists Phathom Pharmaceuticals as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [Frazier Life Sciences](https://millionrounds.com/fund/frazier-life-sciences) VC firm Per its own site ## Quick answers about Phathom Pharmaceuticals ### Who invested in Phathom Pharmaceuticals? Phathom Pharmaceuticals's investors include Janus Henderson Investors, Hercules Capital, Frazier Healthcare Partners, New Enterprise Associates and RA Capital Management, and 9 more on record. ### How much has Phathom Pharmaceuticals raised? Phathom Pharmaceuticals has raised $530M across 3 rounds since 2019. ### When did Phathom Pharmaceuticals last raise? Phathom Pharmaceuticals's most recent round was an Undisclosed round of $130M in Jan 2026. ### What was Phathom Pharmaceuticals's biggest round? Phathom Pharmaceuticals's largest round on record is $260M (Debt), in May 2022. ### Who backed Phathom Pharmaceuticals first? Phathom Pharmaceuticals's first round on record, in May 2019, was backed by Frazier Healthcare Partners, Janus Henderson Investors and Abingworth and 6 others. ### What stage is Phathom Pharmaceuticals at? Phathom Pharmaceuticals's latest named round is an Undisclosed round, in Jan 2026. ### Where is Phathom Pharmaceuticals based? Phathom Pharmaceuticals is based in the United States. ### Who led Phathom Pharmaceuticals's rounds? Frazier Healthcare Partners led the Undisclosed round in 2019. ## Companies like Phathom Pharmaceuticals In the same sector, and raised in the last eighteen months. 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