Roivant Sciences raises $1.1 billion in equity investment

Switzerland-based Roivant Sciences has announced a $1.1 billion equity investment led by the Japanese SoftBank Vision Fund. This investment, which includes existing shareholder participation, is intended to accelerate the launch of new subsidiaries within and beyond the biopharmaceutical industry.

Roivant focuses on developing and commercializing novel therapies through subsidiary ‘Vants’. These include Axovant (neurology), Myovant (women’s health and endocrine diseases), Dermavant (dermatology), Enzyvant (rare diseases), and Urovant (urology). The company acquires and develops promising unapproved drugs abandoned by big pharma for reasons such as cost-cutting and corporate restructuring.

Its most advanced product is an Alzheimer’s drug being developed by the publicly-listed Axovant. It could become the first new drug approved for the disease in more than a decade if it produces successful results in a clinical trial due to be unveiled next month, according to the Financial Times.

“We are pleased to welcome the SoftBank Vision Fund as a new investor in Roivant, and we are grateful for the continued support of our existing shareholders,” said Vivek Ramaswamy, founder and chief executive of Roivant. “I admire SoftBank’s long-term vision and I believe they will add significant strategic value to Roivant in the next phase of our growth.”