Subject: CON
Roivant Sciences Enters into Development Partnership with AstraZeneca
BASEL, Switzerland, Oct. 19, 2017 /PRNewswire/ -- Roivant Sciences today announced that it has entered into a development partnership with AstraZeneca for a deprioritized investigational drug in an undisclosed indication. The drug will be developed by Roivant in a new therapeutic area that is outside of AstraZeneca's main therapy areas. Roivant has licensed global rights for its development and commercialization; deal terms include an upfront payment, development milestones, and royalties. This is the first partnership between Roivant and AstraZeneca.
"We are delighted to welcome AstraZeneca to our expanding circle of pharmaceutical partners," said Vivek Ramaswamy, Founder and CEO of Roivant Sciences. "I admire AstraZeneca's commitment to ensuring that innovative medicines reach patients, and I hope this is the first of many future collaborations."
"This deal is another example of how AstraZeneca collaborates with industry in an open manner to expedite the delivery of novel medicines to patients," said Kumar Srinivasan, Vice President of Scientific Partnering and Alliances with AstraZeneca's Innovative Medicines and Early Development (IMED) Biotech unit.
About Roivant Sciences
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. Roivant partners with innovative biopharmaceutical companies and academic institutions to ensure that important medicines are rapidly developed and delivered to patients.
Roivant advances its drug pipelines through wholly- or majority-owned subsidiary companies, including Axovant (neurology), Myovant (women's health and endocrine diseases), Dermavant (dermatology), Enzyvant (rare diseases), and Urovant (urology). Roivant also pursues its mission by incubating and launching innovative healthcare companies operating outside of traditional biopharmaceutical development. Roivant's long-range mission is to reduce the time and cost of developing and delivering new medicines for patients. For more information, please visit www.roivant.com.
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