Vivek Ramaswamy founded Roivant in 2014.[4] Ramaswamy's initial strategy was to in-license drug candidates and create subsidiaries focused on distinct therapeutic areas.[5] This strategy expanded to include developing earlier stage drug candidates and platform technologies. Roivant is a parent company to over a dozen subsidiaries ranging from Immunovant, a majority-ownedpublic company focused onautoimmune diseases, to privately held Dermavant Sciences, a commercial-stage company[6] focused on medicaldermatology.[7]
Roivant also develops healthcare technologies through its business unit Roivant Health. Roivant built and launchedDatavant, which allows healthcare institutions to share data, and was merged with Coix[8] to become a US$7 billion company. Roivant's technology portfolio also includes Lokavant, which integratesclinical trial data to identify and mitigate risks inpharmaceutical development.[7][9] In 2017, Roivant partnered with the private equity arm of Chinesestate-ownedCITIC Group to form Sinovant.[10][11][12] As of 2019, Roivant had over 40 investigational drugs in development in 14 therapeutic areas across its family of companies.[13]
At the end of 2019, Roivant formed a $3 billion partnership withSumitomo Dainippon Pharma and transferred its ownership stake in five of its subsidiaries: Myovant Sciences, Urovant Sciences, Enzyvant Therapeutics, Altavant Sciences, and Spirovant Sciences, which now sit under Sumitovant Biopharma.[14] The deal included the option for Sumitomo to acquire up to six additional subsidiaries.[15]
In April 2020, Roivant dosed the first patient in a clinical study evaluatinggimsilumab inCOVID-19 patients for the prevention and treatment of acute respiratory distress syndrome (ARDS).[16] Additionally, in April,Datavant announced that its technology is being used to create apro bono COVID-19 research database to help public health and policy researchers combat the pandemic.[17]
In January 2021, Ramaswamy stepped down as CEO. Matt Gline, previously the company'schief financial officer, became CEO.[18] In February 2021, Roivant acquired Silicon Therapeutics, a small-molecule drug designer and computational physics platform, for $450 million in Roivant equity.[19][20] In October 2021, Roivant merged withspecial-purpose acquisition company Montes Archimedes Acquisition Corp. to become listed on theNasdaq.[21]
In June 2022, Roivant and Pfizer unveiled Priovant Therapeutics.[22] Priovant was established in September 2021 through a transaction between Roivant and Pfizer,[23] in which Pfizer licensed oral and topical brepocitinib's global development rights and US and Japan commercial rights to Priovant. Pfizer holds a 25% equity ownership interest in Priovant. Brepocitinib is a potential first-in-class dual, selective inhibitor ofTYK2 andJAK1; in all five placebo-controlled studies completed to date, oral brepocitinib generated statistically significant and clinically meaningful results. Later that year in December 2022, Roivant and Pfizer announced[24] their third partnership to create a new Vant[25] focused on developingTL1A drug candidates for inflammatory and fibrotic diseases. As of February 2023, Roivant's reported market cap was over $6 billion.[26]
In December 2023,Roche completed the acquisition of Telavant from Roivant for a purchase price of $7.1 billion upfront and a near-term milestone payment of $150 million.[31][32]
Kinevant, a clinical-stage biopharmaceutical company developing new medicines for rare autoimmune and inflammatory diseases
Lokavant, which is focused on improving clinical trial monitoring[14]
Priovant
Psivant
The following subsidiaries were previously a part of Roivant, but were included as part of a strategic transaction withSumitomo Dainippon Pharma which closed in December 2019:[35]
Dermavant, focused on developing therapeutics in medical dermatology, with lead candidatetapinarof in development for the treatment ofpsoriasis andatopic dermatitis[37]Organon & Co. agreed to acquire Dermavant in a deal worth up to $1.2 billion, including a $175 million upfront payment.[38]
Enzyvant Therapeutics, which is focused on developing therapies for rare enzyme deficiencies[39]
Roivant is a major shareholder ofDatavant, which was co-founded withTravis May to link disparate healthcare datasets.[43] In October 2020, Datavant announced it raised funds from Roivant alongside Transformation Capital,Johnson & Johnson, andCigna.[44]
In June 2018, Roivant laid off 67 employees and reassigned 130 to subsidiaries.[45]
The company received millions of dollars fromhedge funds such as QVT in the early days of its existence.[48] Later, it was able to raise US$200 million, with help from NovaQuest Capital Management.[49]
^Hyatt, John (April 26, 2023). "How Rich Is Vivek Ramaswamy, The Longshot GOP Presidential Candidate Who Helped Take Down Don Lemon?". Forbes. Archived from the original on July 10, 2023. Retrieved July 10, 2023.
^Weisman, Jonathan; Robbins, Rebecca; Farrell, Maureen (2023-06-27)."How Vivek Ramaswamy Made the Fortune Fueling His Presidential Run".The New York Times.ISSN0362-4331.Archived from the original on 2023-06-29. Retrieved2023-09-13.In 2014, Mr. Ramaswamy founded Roivant Sciences — incorporated in the tax haven of Bermuda and backed by nearly $100 million in funding from investors including QVT, a hedge fund that employed Mr. Ramaswamy after college.
US$125 million (2024)