Roivant Sciences Secures $200 Million in Equity Financing, Valued at $7 Billion

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VCBeat (WeChat Official Account:(VCBeat) learned that on November 13, 2018, local time, Roivant Sciences, headquartered in Basel, Switzerland, announced it had secured $200 million in equity financing.The company is valued at$7 billion. This is a company developing drugs across multiple therapeutic areas—including candidates in Phase III development. It was founded byHedge Fund Manager, Biotechnology EntrepreneurFounded by Vivek Ramaswamy, heAlso foundedAxovant Sciences (a clinical-stage neurology company), which is currently publicly traded.

CompanyThe majority of funds in the latest round of financing came from new investors.NovaQuest Capital Management, RTW Investments, and others. In August 2017, it became the focus of public attention when Roivant secured $1.1 billion in financing led by the SoftBank Vision Fund. Roivant also has several subsidiaries, including Enzyvant (focused on rare disease drug development).andMyovant (R&D of Drugs for Women's Health and Endocrine Disorders), these companies are collectively referred to asVants. The company stated that since securing funding last year, Vantsthe quantity has decreased fromThe number of companies increased from 6 to 14, while their workforce grew from 350 to 750 employees.

Candidate products in Phase III development include: relugolix for uterine fibroids, endometriosis, and prostate cancer; vibegron for overactive bladder and irritable bowel syndrome; lefamulin for community-acquired bacterial pneumonia; derazantinib for intrahepatic cholangiocarcinoma; and BB3 for delayed graft function and acute kidney injury. Many other products are in Phase I and Phase II clinical trials as well as preclinical development, while Enzyvant has submitted applications to the U.S. Food and Drug Administration.Approval of Another ProductRVT-802. The company is inAcross 14 therapeutic areas, there are more than 30 investigational drugs in total.

The company stated that it expects third-phase revenue data to be derived from six Phase III trials, as well as data from multiple early-stage studies next year.

Another company with a valuation reachingThe $7 billion biotech company is Moderna Therapeutics, whoseValuation is at this companyIt was determined after the company completed its $500 million Series G financing nine months ago.filed with the U.S. Securities and Exchange Commission on MondayForm S-1, Proposed Initial Public OfferingFunding$500 million: This could be the largest biotech IPO in history.

RVT-802 is an investigational tissue-based regenerative therapy designed to treat primary immunodeficiency caused by congenital athymia associated with “complete DiGeorge anomaly” (cDGA).

Roivant aims to reduce the time and cost of developing new drugs for patients and share them with the healthcare system. It is a unique biopharmaceutical company with world-class drug development experts, developing drugs in multiple therapeutic areas.

Axovant is a leading clinical-stage neurology company focused on the treatment of dementia and related neurological disorders. It is developing a pipeline of product candidates to comprehensively address the cognitive, functional, and behavioral symptoms of dementia.

RTW Investments primarily invests in innovative healthcare companies.

NovaQuest Capital Management offers a range of customized structured finance investments tailored to the needs of biopharmaceutical companies, primarily investing in late-stage clinical and commercialized biopharmaceutical products.