Sumitomo Dainippon Pharma will acquire at least 10% of Roivant in addition to its interest in five pharmaceutical subsidiaries through the deal.
Pharmaceutical firm Sumitomo Dainippon Pharma is set to take a stake of at least 10% in US-based pharmaceutical and health technology company builder Roivant Sciences as part of a $3bn investment agreed yesterday.
Roivant’s business model involves the formation of a series of subsidiaries it calls ‘vants’, each of which concentrate on a separate disease area. It currently has 45 preclinical and clinical-stage assets being developed across 20 vants.
The $3bn figure represents the upfront payment for a partnership between…