Roivant Sciences has acquired University of Michigan spinout Oncopia Therapeutics.
Oncopia Therapeutics, a US-based developer of protein degraders based on research at University of Michigan, has been acquired by pharmaceutical company builder Roivant Sciences.
Financial terms of the deal have not been disclosed.
Oncopia Therapeutics has developed targeted protein degraders. It is based on research by co-founders Shaomeng Wang, the Warner-Lambert/Parke-Davis professor in medicine and professor of internal medicine, pharmacology and medicinal Ccemistry.
Roivant announced the acquisition in conjunction with a strategic partnership with conglomerate SK Group’s investment arm SK Holdings. The corporate is investing $200m of equity financing into Roivant as part of that deal.
Vivek Ramaswamy, founder and CEO of Roivant Sciences, said: “We see targeted protein degradation as one of the most promising areas for novel drug discovery and we intend to build a leadership position in this field.”
