In March 2019, the company secured a global license from Takeda to develop, manufacture and commercialize serabelisib and two additional PI3Kα-specific inhibitors. The agreement grants Petra a license for all human therapeutic uses, except for a subset of undisclosed rare-disease indications, which Takeda had previously out-licensed.

The company, founded in 2016, currently has three programs in development. Petra plans to initiate a Phase Ib/II study with serabelisib in late 2019 to advance pioneering research and insights in PI signaling pathways with a focus on PIK3CA-mutated solid tumors.