Sumitomo Dainippon and Roivant Signs a Memorandum of Understanding to Form $3B Alliance
Shots:
- Roivant to get $3B up front from Sumitomo Dainippon for selling the ownership of five of its Vant companies i.e- Myovant Sciences- Urovant Sciences- Enzyvant Therapeutics- Altavant Sciences and one is undisclosed. The agreement is expected to be signed in Oct’2019
- Sumitomo to acquire >10% shares in Roivant and has an option to acquire 6 additional Vants with access to its technology platform- DrugOme and Digital Innovation. Roivant will continue to utilize its platform under a separate contract
- Sumitomo plans to sign a deal with Roivant for its Datavant and Alyvant utilizing in its ongoing & future clinical and commercialization activities. The alliance will strengthen Sumitomo’s position by bringing growth after the expiry of market exclusivity of its Latuda in the US and by identifying issues in its mid-term business plan 2022
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