The UK-based independent specialty pharmaceutical company, Phosphate Therapeutics, has acquired global rights to develop PT20, a phosphate binder for the treatment of hyperphosphataemia related to dialysis-dependent or dialysis-independent chronic kidney disease (CKD). The company aims to complete the Phase 2 development of PT20, which is designed to cure high phosphate levels in blood, and is an iron-based phosphate binder. The drug was acquired from the Medical Research Council, and the company intends to use capital to fund its development.