Sumitomo Dainippon Pharma has signed a deal worth $3 billion to assume ownership of stakes held by Roivant Sciences in certain biopharma companies (Vants), as per the latest pharma acquisition news.
The deal will help in creating a biopharma alliance between the two companies.
As per the terms of the deal, the Japanese pharma company will acquire stakes of Roivant Sciences in six Vants, while having an option to acquire a maximum of another six. All the Vants involved in the deal have a combined 25 plus clinical programs.
Roivant Sciences expects to have multiple potential product launches from the 11 Vants in the 2020-2022 period.
The deal also involves a 10% stake acquisition by Sumitomo Dainippon Pharma in Roivant Sciences.
Sumitomo Dainippon Pharma to acquire stakes of Roivant Sciences in certain Vants. Photo courtesy of Kirakirameister/Wikipedia.org.
Vivek Ramaswamy – Founder and CEO of Roivant Sciences said: “We are pleased to enter into this relationship with Sumitomo Dainippon Pharma and we look forward to working closely with them to ensure the success of the Alliance.
“Sumitomo Dainippon’s expertise in commercializing major products globally, combined with support from our technology-oriented Vants and the central Roivant platform, will enhance the value of the product portfolio included in this Alliance. We view this partnership as a major validation of the Roivant platform and we will continue to launch other innovative Vants in the future.”
Established in 2014, Roivant Sciences is focused on creating a portfolio of subsidiary biotech and health technology companies. The company boasts of having 20 Vants with more than 45 investigational drugs in clinical and preclinical development along with multiple healthcare technologies under its fold.
The non-binding memorandum of understanding (MoU) signed by the parties will involve Roivant Sciences’ subsidiaries Myovant Sciences, Urovant Sciences, Enzyvant Therapeutics, Altavant Sciences. The name of the fifth Vant, which will be part of the deal, will be disclosed before the definitive agreement is signed, which is expected to take place by October end.
Myovant Sciences is focused on developing medicines for women’s health and prostate cancer. Urovant Sciences is engaged in therapies for urinary diseases, while Altavant Sciences and Enzyvant Therapeutics are into development of respiratory rare diseases and paediatric rare diseases, respectively.
The deal will also give Sumitomo Dainippon Pharma access to DrugOme and Digital Innovation – the technology platforms of Roivant Sciences. While DrugOme is used for accelerating pipeline acquisition and clinical development, Digital Innovation leverages technology to improve business processes.
Hiroshi Nomura – Representative Director, President and CEO of Sumitomo Dainippon Pharma said: “I am hopeful that through this Alliance between the two companies, Sumitomo Dainippon Pharma will not only obtain growth engines after expiry of the U.S. market exclusivity of LATUDA, but also address issues identified in the Mid-term Business Plan 2022 and contribute significantly to establish a position as a ‘Global Specialized Player’ which we aspire to be by 2033 through our transformation into a novel pharmaceutical business model leveraging data and digital technologies.”
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