Founded by former hedge fund manager Vivek Ramawamy, Roivant Sciences set out to redefine drug development by acquiring overlooked drugs and advancing their development. The merger deal that will take it public reveals how much new technology changed the company's vision and its strategy.
The Sumitomo Dainippon-Roivant Alliance will be wholly owned by Sumitomo, which is also taking control of five companies - and potentially six more - from Ramaswamy's Vant family of firms.
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Alyvant will be focused on connecting de-identified patient data with physician data to connect patient populations with suitable medications.
The company, founded by Vivek Ramaswamy, anticipates topline data from six Phase III trials next year. It raised $1.1 billion last year in a round led by SoftBank.
Myovant Sciences has orchestrated the largest biotech IPO of the year thus far, five months after their launch and with just nine employees on payroll.