Roivant raised USD 200 million, now valued at USD 7 billion
The Basel-based pharmaceutical company Roivant Sciences has raised USD 200 million in a funding round. As a result, the company is now valued at an estimated USD 7 billion.
Vivek Ramaswamy, Founder and Chief Executive Officer of Roivant Sciences
Roivant Sciences reported in a press release that all existing institutional shareholders participated in the latest funding round. The Basel pharma company also attracted a number of new investors, including NovaQuest Capital Management and RTW Investments. These new investors made up the majority of this latest funding drive, in which Roivant raised USD 200 million. The round has not yet finished and is only expected to close in early December. According to the press release, this latest financing puts the value of Roivant Sciences at approximately USD 7 billion.
Since the previous Roivant funding round last year, the number of therapies in development has grown from 14 to 34 and the company has increased its subsidiary “Vants” from six to 14. There has also been growth in employee numbers across Roivant and the Vants, from under 350 to more than 750. In addition, the Roivant subsidiary Enzyvant initiated a biologics licence application for a regenerative therapy to the U.S. Food and Drug Administration (FDA).
For 2019, the company anticipates topline data from six Phase 3 clinical trials. Roivant Health also intends to launch new Vants next year. This subsidiary was founded in June to develop companies that bring innovative medicines to emerging markets and improve the process of developing and commercialising new medicines through the application of technology. Sales are also expected to grow for Datavant, founded in autumn 2017 as a subsidiary that uses artificial intelligence in data analysis to improve the clinical trial process and accelerate drug development.
Roivant Sciences and its subsidiaries are supported by BaselArea.swiss as they establish themselves in Basel.
Share this article
You might also be interested in
A research project is investigating the improvement in the condition of patients who have been hospitalized due to COVID-19. docdok.health based in Basel is contributing the smartphone app for the project.Read More
The Allschwil-based pharmaceutical company Idorsia receives a payment of 45 million US dollars as part of an agreement with Neurocrine Biosciences and shall also be entitled to claim milestone payments in future. Neurocrine has exercised a licensing option for a drug developed by Idorsia to treat epilepsy..Read More
Roche has received Emergency Use Authorization in the USA for an antibody test in connection with the novel coronavirus. The tests are already being distributed around the world. In May, production capacities are to already be scaled up to the high double-digit million area.Read More
Basel is valued as a location for company headquarters. In a rating from the fDi Intelligence platform of the Financial Times, Basel achieves eighth place in Europe. No other Swiss city does better.Read More
The investment and innovation promotion agency Basel Area Business & Innovation, previously known as BaselArea.swiss, can look back on a successful year in 2019. In this regard, positive developments in the healthtech sector and in Switzerland Innovation Park Basel Area stand out.Read More
The University Hospital Basel is the first Swiss hospital to have treated two Covid-19 patients with the plasma from a patient who has recovered from the virus, which means that they are receiving the appropriate antibodies. This method is a potential therapeutic option.Read More
The Basel-based Botnar Research Center for Child Health is providing capital in the amount of 15 million Swiss francs to its four partner institutions. In this way, the University of Basel should be in a position to advance research into dealing with the coronavirus outbreak.Read More