Roivant Sciences Announces $200 Million Investment Round
Roivant Sciences has announced a $200 million equity financing. New investors include NovaQuest Capital Management, RTW Investments, and other large institutional asset managers. These new investors comprise a majority of the round. All existing institutional shareholders in Roivant are also participating. The financing values Roivant at approximately $7 billion.
All investors will continue to hold common equity, without liquidation preferences. The proceeds will be used primarily to launch additional Vants developing innovative medicines and technologies. The round is expected to close by early December.
Since Roivant’s last financing in 2017:
- The number of therapies in development has grown from 14 to 34
- The number of Vants has grown from 6 to 14
- The number of employees across Roivant and the Vants has increased from under 350 to over 750
- Roivant subsidiary Enzyvant initiated a Biologics License Application for a regenerative therapy to the U.S. Food and Drug Administration
Roivant anticipates topline data from six Phase 3 clinical trials and multiple clinical readouts from earlier-stage therapies across its family of companies in 2019, as well as growing revenue at Datavant and other new Vants launched by Roivant Health.
Source: Roivant Press Release