Roivant acquires GSK's Alzheimer's drug

Bermuda-based biotech firm Roivant Neurosciences,wholly-owned subsidiary of Roivant Sciences, has entered into an agreement with UK pharma major GlaxoSmithKline (LSE: GSK) for the acquisition of SB742457, a selective 5-HT6 receptor antagonist with the potential to improve cognition and function in multiple central nervous system disorders. Financial terms of the transaction were not disclosed.

GSK conducted 13 clinical studies of SB742457 involving over 1,250 healthy subjects and Alzheimer's disease patients. The results of these studies provide strong evidence that SB742457 holds promise for patients with mild-to-moderate Alzheimer's disease.

"This transaction represents a foundational late-stage clinical asset for Roivant," stated Vivek Ramaswamy, founder and director of Roivant Sciences Ltd and chief executive of Roivant Sciences Inc. "Our organization is fully committed to building on the research already completed by GSK and advancing a new therapeutic option for Alzheimer's disease, a debilitating and deadly disease that affects millions of patients and their families."