Roivant Sciences Raises $1.1 Billion10.08.2017 17:20
Roivant Sciences today announced a $1.1 billion equity investment led by the SoftBank Vision Fund. The global headquarters of the biotech group and its subsidiaries are in Basel.
Roivant, founded in 2014, focuses on developing and commercializing novel therapies through subsidiaries called ‘Vants’. These include Axovant (neurology, also headquartered in Basel), Myovant (women’s health and endocrine diseases), Dermavant (dermatology), Enzyvant (rare diseases), and Urovant (urology). These subsidiaries are also headquartered in Basel.
Datavant, a new technology-focused subsidiary, will be the first company in the Roivant family to operate outside of traditional biopharmaceutical development. Datavant aims to dissolve barriers between siloed healthcare datasets in order to unlock novel insights and reduce the time and cost of delivering innovative medicines to patients.
“We are pleased to welcome the SoftBank Vision Fund as a new investor in Roivant, and we are grateful for the continued support of our existing shareholders,” said Vivek Ramaswamy, Founder and CEO of Roivant. “I admire SoftBank’s long-term vision and I believe they will add significant strategic value to Roivant in the next phase of our growth.”
“Roivant has attracted world-class talent in its pursuit of developing and commercializing drugs that target large unmet medical needs,” said Akshay Naheta, Managing Director of SoftBank Group International. “We are impressed with the ambition and track record of the Roivant team and look forward to supporting them in the next step of their journey, as they look to effectively harness technology and leverage big data across all aspects of their business.”
“Roivant has come a very long way in a relatively short period of time,” said Dan Oren, President and CEO of Dexcel Pharma, a member of the Dexxon investor group which is both an initial investor in Roivant and a participant in this financing. “Since 2014 they have formed a diverse array of companies with many promising therapies in development. We supported Roivant at the very beginning and we continue to support them as they scale their operations and pursue new opportunities.”
Roivant delivers R&D solutions to its industry partners by helping them unlock value from their pipelines and realize the full potential of their research by completing the product development cycle. Roivant’s clinical development pipeline spans multiple therapeutic areas through strategic alliances, collaborations, and partnerships with academic institutions and pharmaceutical companies, including Takeda Pharmaceuticals, Eisai, GlaxoSmithKline, Vertex Pharmaceuticals, Duke University, and Cincinnati Children’s Hospital.
In December 2016, Roivant announced the opening of Roivant Sciences GmbH as its new global headquarters in Basel. “Roivant’s mission is to reduce the time and cost of developing new medicines for patients,” stated Vivek Ramaswamy, founder of the Roivant group of companies. “We believe this location in the hub of European pharmaceutical innovation and talent will support our vision.”