Roivant raises further $200m from NovaQuest et al.

NovaQuest and RTW were new investors in the business, and were joined by other large institutional asset managers as new backers, according to a statement. In addition, all existing institutional shareholders took part, with the round giving Roivant a post-money valuation of around $7bn.

All investors will continue to hold common equity, without liquidation preference, and the round is expected to close in December.

In November last year, SoftBank Vision Fund led a $1.1bn funding round for the Swiss biopharma, along with the company's existing shareholders. The 2017 funding was intended to accelerate the launch of new subsidiaries within and beyond the biopharmaceutical industry. This latest round is earmarked for the same purposes.

Roivant stated that since the 2017 investment, the number of therapies in development has grown from 14 to 34, with its number of subsidiaries going from six to 14. Headcount across both the Roivant parent company and its subsidiaries went from 350 to 750.

Company
Founded in 2014, Roivant Sciences is a biopharmaceutical company aiming to develop and commercialise therapies across diverse therapeutic areas. It aims to reduce the time and cost of developing and delivering new medicines for patients by operating on a parent and subsidiaries model – Roivant itself is the umbrella and sets up individual subsidiaries per project. Based in Basel, Switzerland, the company has additional offices across North America and Asia.

People
Roivant Sciences – Vivek Ramaswamy (founder, CEO).

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• Topics
• Early-stage
• Healthcare
• DACH
• Venture
• Switzerland