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Finance Watch: Roivant Raises $1.1bn, Relying On Private Equity To Fund New Companies

 
• By Mandy Jackson

Roivant will use the cash to fund other "Vants" that develop drugs or make the process more efficient. Also, Zealand launches its IPO, Apellis raises a $60m Series E and BioMarin tops recent offerings.

Finance Watch

Roivant Sciences GMBH Founder and CEO Vivek Ramaswamy told Scrip in an interview published last month that the company does not plan to pursue initial public offerings to fund any more of its standalone subsidiaries – and now we know how that's possible (see sidebar). Roivant closed a $1.1bn equity financing led by SoftBank Vision Fund, nearly doubling the $1.5bn it raised previously.

Roivant's claim to fame is finding drugs de-prioritized by big pharma and creating subsidiary companies to develop the assets and pursue a pipeline of medicines in the same disease area, i.e. neurology-focused Axovant Sciences Ltd., which recruited former Medivation Inc. CEO David Hung earlier this year and is awaiting Phase III results for the Alzheimer's drug intepirdine

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More from Financing

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

HAYA Raises $65m To Take First Long Non-Coding RNA Program Into The Clinic

 
• By Mandy Jackson

HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.

Sanofi R&D Head’s Words Of Wisdom For Biotechs

 
• By Kevin Grogan

Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

More from Business

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

Pharma Left Hanging After US/UK Trade Pact

 
• By Kevin Grogan

An ‘historic economic prosperity deal’ does not include the sector.

Viatris Will File ‘Fast-Acting’ Meloxicam For FDA Approval This Year

 
• By Joseph Haas

Seven years after acquiring it, Viatris will seek approval of a meloxicam formulation for acute pain backed by data from two Phase III studies in post-surgical pain settings.