Roivant Sciences and Sumitomo Dainippon Pharma have announced a definitive agreement, under which Sumitomo Dainippon Pharma will acquire a majority stake in Roivant`s five Vant companies. The deal is expected to close in the first quarter of 2020.
Roivant Sciences is a leading biopharmaceutical company that seeks to improve the lives of patients by developing innovative therapies. It currently has 18 Vant companies, which are focused on developing treatments for a variety of diseases, including Alzheimer`s, Parkinson`s, and chronic kidney disease.
Sumitomo Dainippon Pharma, on the other hand, is a Japanese pharmaceutical company that focuses on developing innovative therapies for mental health, oncology, and other diseases. The company has a strong presence in Japan and is expanding its operations globally.
Under the agreement, Sumitomo Dainippon Pharma will acquire a 10% stake in Roivant Sciences for $3 billion. Additionally, it will acquire a 60% stake in the five Vant companies for up to $3 billion in cash and equity.
Roivant Sciences will retain a 10% ownership interest in the Vant companies and will continue to provide operational and strategic support.
The deal is expected to provide significant benefits to both Roivant Sciences and Sumitomo Dainippon Pharma. For Roivant, the partnership will provide access to Sumitomo Dainippon Pharma`s expertise in research and development, manufacturing, and commercialization. It will also provide the company with the financial resources needed to further develop its pipeline of innovative therapies.
For Sumitomo Dainippon Pharma, the partnership will provide access to Roivant Sciences` innovative technology platform and expertise in developing novel therapies. It will also provide the company with a strong presence in the United States, where Roivant Sciences is based.
Overall, the Roivant Sumitomo definitive agreement is a significant development in the biopharmaceutical industry. It is expected to accelerate the development of novel therapies and improve the lives of patients around the world.
