| News

Roivant invests 200 million dollars in Immunovant

06.08.2021

The Basel-based Roivant Group has invested a total of 200 million dollars in the US biopharmaceutical company Immunovant. This investment is designed to drive forward the development of a drug to treat autoimmune diseases. Immunovant also operates a branch office in Basel.

Roivant Sciences has made a strategic investment in the amount of 200 million US dollars in Immunovant. This fresh capital injection should primarily serve to drive forward the development of the drug candidate IMVT-1401 for the treatment of various autoimmune diseases.

According to a press release, Roivant Sciences has acquired 17,021,276 ordinary shares in Immunovant at a price of 11.75 dollars per share. The investment sees the company’s stake in Immunovant increase from 57.5 percent to 63.8 percent – based on Immunovant’s cash balance and share count as of March 31, 2021.

Over the next 12 months, Immunovant intends not only to continue the existing studies in relation to IMVT-1401, but also to initiate two new clinical trials, according to comments in the press release from Peter Salzmann, CEO of Immunovant.

“We are incredibly excited about the prospects for IMVT-1401, and we are eager to support Immunovant through this investment”, says Matt Gline, CEO of Roivant Sciences, in the press release.

Roivant Sciences focuses on the development of innovative drugs in the areas of neurology, oncology, endocrinology, dermatology and hepatology. The Group’s global headquarters have been located in Basel since 2016.

Immunovant is listed on the NASDAQ-GS stock exchange in the USA and also operates a branch office in Basel.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Roche tests able to detect Omicron
Basel Area Business & Innovation, Innovation, Invest

Roche tests able to detect Omicron

The Roche subsidiary TIB Molbiol has developed new coronavirus testing kits that can also detect the new Omicron variant of...

Read More
Hemex banks 7.1 million Swiss francs
Basel Area Business & Innovation, Innovation, Invest

Hemex banks 7.1 million Swiss francs

Hemex has raised a total of 7.1 million Swiss francs as part of a Series C financing round. The company...

Read More
EsoCap impresses investors
Basel Area Business & Innovation, Innovation, Invest

EsoCap impresses investors

EsoCap, a biotech company based in Basel, has concluded a successful funding round. The funds from new and existing investors...

Read More
Plug and Play settles in the Basel Area
Basel Area Business & Innovation, Innovation, Invest

Plug and Play settles in the Basel Area

Plug and Play is coming to the canton of Basel-Landschaft. The first founding partner of the innovation promoter from Silicon...

Read More
Bachem builds its largest production building
Basel Area Business & Innovation, Innovation, Invest

Bachem builds its largest production building

Bachem has laid the foundation stone for its largest production building to date. The company specializing in the manufacture of...

Read More
Bottneuro advancing personalized Alzheimer’s therapy
Basel Area Business & Innovation, Innovation, Invest

Bottneuro advancing personalized Alzheimer’s therapy

Basel-based startup Bottneuro is working on the development of personalized therapies to treat Alzheimer’s disease in which certain areas of...

Read More
1 2 3 50

Do you have a question? We'd like to hear from you.