The Basel-based pharmaceutical company Roivant Sciences has raised USD 200 million in a funding round. As a result, the company is now valued at an estimated USD 7 billion.
Roivant Sciences reported in a press release that all existing institutional shareholders participated in the latest funding round. The Basel pharma company also attracted a number of new investors, including NovaQuest Capital Management and RTW Investments. These new investors made up the majority of this latest funding drive, in which Roivant raised USD 200 million. The round has not yet finished and is only expected to close in early December. According to the press release, this latest financing puts the value of Roivant Sciences at approximately USD 7 billion.
Since the previous Roivant funding round last year, the number of therapies in development has grown from 14 to 34 and the company has increased its subsidiary “Vants” from six to 14. There has also been growth in employee numbers across Roivant and the Vants, from under 350 to more than 750. In addition, the Roivant subsidiary Enzyvant initiated a biologics licence application for a regenerative therapy to the U.S. Food and Drug Administration (FDA).
For 2019, the company anticipates topline data from six Phase 3 clinical trials. Roivant Health also intends to launch new Vants next year. This subsidiary was founded in June to develop companies that bring innovative medicines to emerging markets and improve the process of developing and commercialising new medicines through the application of technology. Sales are also expected to grow for Datavant, founded in autumn 2017 as a subsidiary that uses artificial intelligence in data analysis to improve the clinical trial process and accelerate drug development.
Roivant Sciences and its subsidiaries are supported by BaselArea.swiss as they establish themselves in Basel.