The pharma will assume ownership interests in five biopharma companies.
Sumitomo Dainippon Pharma has agreed to acquire a 10% stake in Swiss biotech healthcare company Roivant Sciences for $3b, according to an announcement.
The two companies have signed a memorandum of understanding (MOU) to transfer to Sumitomo Dainippon Pharma the ownership interests of Roivant in five of their biopharmaceutical companies and to access Roivant's proprietary technology platforms, DrugOme and Digital Innovation.
The soon-to-be formed Sumitomo Dainippon-Roivant Alliance will be wholly-owned by Sumitomo Dainippon Pharma and is expected to assume ownership interests in Myovant Sciences (women's health and prostate cancer), Urovant Sciences (urinary diseases), Enzyvant Therapeutics (pediatric rare diseases), Altavant Sciences (respiratory rare diseases), and one additional company to be specified before the agreement’s definitive execution.
The Japanese pharma will gain access to DrugOme, which assists in accelerating pipeline acquisition and clinical development, and Digital Innovation, which reportedly uses technology to improve business processes. These platforms will continue to be used by Roivant under separate contract for other Vants as well as future business activities.
The pharma also expects to enter contract agreements with Roivant Health technology Vants, including Datavant and Alyvant, for its current and planned clinical and commercialization activities.
Roivant and Sumitomo Dainippon Pharma expect to sign the definitive agreement by the end of October 2019.
Photo taken from Wikimedia Commons
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