Frazier Healthcare Partners led the $40 million series A to launch Iterum Therapeutics Ltd., which will focus on in-licensing and developing anti-infective candidates targeting multidrug-resistant pathogens. Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners joined the round for the newly formed biopharma, which said it licensed global rights from an undisclosed multinational pharma to an anti-infective that previously demonstrated in vitro activity against a variety of gram-negative, gram-positive and anaerobic bacteria that are resistant to other antibiotics.