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Roivant Sciences secures USD one billion investment

The Basel-based pharmaceutical company Roivant Sciences has secured financing of more than USD 1.1 billion from a group of investors. It will use the funds to create new subsidiaries.

Roivant Sciences-CEO
Image Credit: Roivant Sciences

The group of investors was led by the Japanese SoftBank’s Vision Fund, announced Roivant Sciences in a statement. Existing investors including the Dexxon Investor Group were also involved in the financing.

“We are pleased to welcome the SoftBank Vision Fund as a new investor in Roivant, and we are grateful for the continued support of our existing shareholders,” commented Vivek Ramaswamy, founder and CEO of Roivant Sciences, in the statement.

Roivant has a network of subsidiaries responsible for fields including neurology (Axovant) and dermatology (Dermavant). BaselArea.swiss supported both Roivant and its affiliated companies with their establishment in Basel.

Thanks to the financing, this network is now set to expand. Roivant plans to grow both within and beyond the biopharmaceutical sector.

Datavant will be the first subsidiary to extend Roivant Sciences’ business division. The technology company aims to analyse siloed healthcare data to reduce the time and cost associated with marketing drugs.  

“We are impressed with the ambition and track record of the Roivant team,” commented Akshay Naheta, managing director of the SoftBank Group International. “We look forward to supporting them in the next step of their journey, as they look to effectively harness technology and leverage big data across all aspects of their business.”

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