Urovant Sciences Parent Company, Roivant Sciences, and Sumitomo Dainippon Pharma Enter into a Memorandum of Understanding to Create Broad Strategic Alliance
Sumitomo Dainippon Pharmais expected to fully assume Roivant’s ownership interest of Urovant Sciences(approximately 75% of outstanding Urovant shares); definitive agreement expected by the end of October 2019 Sumitomo Dainippon Pharmais a top-ten Japanese listed multi-national pharmaceutical company with an extensive history of innovation in drug development and commercialization. Sumitomo Dainippon Pharmahas over 6,000 employees and generated over $4 billionin revenue last year through commercialization of several large market pharmaceutical drugs in the U.S., including the blockbuster drug LATUDA®
Upon close, this transaction will provide
Urovant Scienceswith a global platform, enhanced commercialization resources and infrastructure, including, but not limited to, managed care, drug distribution, and manufacturing
“We look forward to this promising new Alliance which provides significant advantages for us as we prepare for the commercial launch of vibegron,” said
Earlier this year,
About Roivant Sciences
Roivant aims to improve health by rapidly delivering innovative medicines and technologies to patients. Roivant does this by building Vants – nimble, entrepreneurial biotech and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization. Roivant today is comprised of a central technology-enabled platform and 20 Vants with over 45 investigational medicines in clinical and preclinical development and multiple healthcare technologies. For more information, please visit www.roivant.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations and can be identified by words such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “strive,” “to be,” “will,” “would,” or the negative or plural of these words or other similar expressions or variations, although not all forward-looking statements contain these identifying words. In this press release, forward-looking statements include, but are not limited to, statements regarding Roivant Sciences and Sumitomo Dainippon Pharma’s plans with respect to the Alliance, including the timing of entry into the definitive agreement, timing of closing of the Alliance and post-closing management of Urovant; the Company’s plans and strategies for the development and commercialization of innovative therapies for the treatment of urological conditions; the Company’s expectations regarding its anticipated NDA filing for vibegron for OAB; the Company’s expectations regarding its study of vibegron in men with OAB and BPH and its study of vibegron in patients with abdominal pain related to IBS; and the Company’s expectations regarding its Phase 2a study for URO-902.
The Company’s forward-looking statements are based on management’s current expectations and beliefs, and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they are not guarantees and the Company can give no assurance that its expectations will be attained. Factors that could materially affect the Company’s operations and future prospects or which could cause actual results to differ materially from expectations include, but are not limited to: the possibility that Roivant and
The Memorandum is not legally binding with the exception of some stipulations. The two companies will continue to conduct necessary due diligence and engage in mutual consultations as required as they work toward the conclusion of a legally binding definitive agreement concerning detailed conditions, etc. of the