Roivant raises $1.1bn to launch biopharma subsidiaries

Cue Biopharma to develop next-gen biologics via Merck collab
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Roivant Sciences has raised $1.1 billion in equity investment to accelerate the launch of new subsidiaries within and beyond the biopharma industry.

The investment was led by the SoftBank Vision Fund and includes continued support from existing shareholders.

Roivant focuses on developing and commercialising novel therapies through subsidiary ‘Vants’.

These include Axovant (neurology), Myovant (women’s health and endocrine diseases), Dermavant (dermatology), Enzyvant (rare diseases), and Urovant (urology).

Datavant, a new technology-focused subsidiary, will be the first company in the Roivant family to operate outside of traditional biopharmaceutical development.

Datavant aims to dissolve barriers between siloed healthcare datasets in order to unlock novel insights and reduce the time and cost of delivering innovative medicines to patients.

“Roivant has attracted world-class talent in its pursuit of developing and commercializing drugs that target large unmet medical needs,” said Akshay Naheta, Managing Director of SoftBank Group International.

Dan Oren, President and CEO of Dexcel Pharma, added: “Since 2014 they have formed a diverse array of companies with many promising therapies in development.

“We supported Roivant at the very beginning and we continue to support them as they scale their operations and pursue new opportunities.”