Biotech firm, Roivant Sciences has secured $1.1 billion equity investment from the 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.
Commenting on the development, Akshay Naheta, Managing Director of SoftBank Group International said, “Roivant has attracted world-class talent in its pursuit of developing and commercializing drugs that target large unmet medical needs. We are impressed with the ambition and track record of the Roivant team and look forward to supporting them in the next step of their journey, as they look to effectively harness technology and leverage big data across all aspects of their business.”
Founded by 32-year-old Indian-origin entrepreneur Vivek Ramaswamy, Roivant Sciences Group focuses on developing and commercializing novel therapies through subsidiary ‘Vants’. It focuses on five different subsidiaries areas which includes Axovant (neurology), Myovant (women’s health and endocrine diseases), Dermavant (dermatology), Enzyvant (rare diseases), and Urovant (urology).
Ramaswamy who is originally from Kerala has co-founded and served as president of Campus Venture Network, a technology company in 2007. The firm was later on acquired by the Ewing Marion Kauffman Foundation. He then worked at hedge fund QVT Financial from 2007 to 2014, where he was a partner and co-managed the firm's biotech portfolio.
“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,” said Vivek Ramaswamy, Founder and CEO of Roivant.
Roivant is dedicated to transformative innovation in healthcare. Roivant focuses on realizing the full potential of promising biomedical research by developing and commercializing novel therapies across diverse therapeutic areas. They partner with innovative biopharmaceutical companies and academic institutions to ensure that important medicines are rapidly developed and delivered to patients.
Roivant also plans to launch new companies operating outside of traditional biopharmaceutical development. Datavant, a new technology-focused subsidiary, will be the first company in the Roivant family to operate outside of traditional biopharmaceutical development. Datavant aims to dissolve barriers between siloed healthcare datasets in order to unlock novel insights and reduce the time and cost of delivering innovative medicines to patients.
Roivant’s long-range mission is to reduce the time and cost of developing and delivering new medicines for patients.“
“Roivant has come a very long way in a relatively short period of time,” said Dan Oren, President and CEO of Dexcel Pharma, a member of the Dexxon investor group which is both an initial investor in Roivant and a participant in this financing. “Since 2014 they have formed a diverse array of companies with many promising therapies in development. We supported Roivant at the very beginning and we continue to support them as they scale their operations and pursue new opportunities," he added further.
Prior to this investment, SoftBank has invested $2.5 billion in the homegrown e-commerce firm, Flipkart marking the biggest private investment in the country’s consumer technology sector. The SoftBank invests globally in the businesses and technologies that will enable the next stage of the information revolution, and make tomorrow’s world leading businesses possible. The fund invests across all technology sectors and geographies, including computational biology, data-driven healthcare, and technology-enabled pharmaceutical businesses
Commenting on the development, Akshay Naheta, Managing Director of SoftBank Group International said, “Roivant has attracted world-class talent in its pursuit of developing and commercializing drugs that target large unmet medical needs. We are impressed with the ambition and track record of the Roivant team and look forward to supporting them in the next step of their journey, as they look to effectively harness technology and leverage big data across all aspects of their business.”
Founded by 32-year-old Indian-origin entrepreneur Vivek Ramaswamy, Roivant Sciences Group focuses on developing and commercializing novel therapies through subsidiary ‘Vants’. It focuses on five different subsidiaries areas which includes Axovant (neurology), Myovant (women’s health and endocrine diseases), Dermavant (dermatology), Enzyvant (rare diseases), and Urovant (urology).
Ramaswamy who is originally from Kerala has co-founded and served as president of Campus Venture Network, a technology company in 2007. The firm was later on acquired by the Ewing Marion Kauffman Foundation. He then worked at hedge fund QVT Financial from 2007 to 2014, where he was a partner and co-managed the firm's biotech portfolio.
“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,” said Vivek Ramaswamy, Founder and CEO of Roivant.
Roivant is dedicated to transformative innovation in healthcare. Roivant focuses on realizing the full potential of promising biomedical research by developing and commercializing novel therapies across diverse therapeutic areas. They partner with innovative biopharmaceutical companies and academic institutions to ensure that important medicines are rapidly developed and delivered to patients.
Roivant also plans to launch new companies operating outside of traditional biopharmaceutical development. Datavant, a new technology-focused subsidiary, will be the first company in the Roivant family to operate outside of traditional biopharmaceutical development. Datavant aims to dissolve barriers between siloed healthcare datasets in order to unlock novel insights and reduce the time and cost of delivering innovative medicines to patients.
Roivant’s long-range mission is to reduce the time and cost of developing and delivering new medicines for patients.“
“Roivant has come a very long way in a relatively short period of time,” said Dan Oren, President and CEO of Dexcel Pharma, a member of the Dexxon investor group which is both an initial investor in Roivant and a participant in this financing. “Since 2014 they have formed a diverse array of companies with many promising therapies in development. We supported Roivant at the very beginning and we continue to support them as they scale their operations and pursue new opportunities," he added further.
Prior to this investment, SoftBank has invested $2.5 billion in the homegrown e-commerce firm, Flipkart marking the biggest private investment in the country’s consumer technology sector. The SoftBank invests globally in the businesses and technologies that will enable the next stage of the information revolution, and make tomorrow’s world leading businesses possible. The fund invests across all technology sectors and geographies, including computational biology, data-driven healthcare, and technology-enabled pharmaceutical businesses
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