SOUTH SAN FRANCISCO (dpa-AFX) - Roivant (ROIV), on Monday, announced a definitive agreement with Roche (RHHBY) to acquire Telavant Holdings Inc., a Roivant company, owned by Roivant Sciences Ltd. and Pfizer Inc. Under the terms of the agreement, Roche will pay a purchase price of $7.1 billion upfront and a near-term milestone payment of $150 million.
Roche will gain the rights to develop, manufacture, and commercialize RVT-3101 in the US and Japan to treat inflammatory bowel disease and potentially multiple other diseases.
RVT-3101 is a Phase 3-ready antibody with first-in-class and best-in-disease potential, a novel mode of action, and strong Phase 2b data in ulcerative colitis
Roche will also obtain an option to enter into a global collaboration with Pfizer on a next-generation p40/TL1A-directed bispecific antibody, currently in Phase 1.
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