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Roivant Sciences (NASDAQ:ROIV) said Monday Roche (OTCQX:RHHBY) will acquire Telavant Holdings, which is developing a new treatment for inflammatory bowel diseases, for $7.1B upfront and a near-term milestone payment of $150M.
The deal includes the development, manufacturing and commercialization rights in the U.S. and Japan for RVT-3101, the new therapy that is being tested to treat inflammatory bowel disease, including ulcerative colitis and Crohn’s disease.
Since the antibody targets both inflammation and fibrosis, it has the potential to be applied in multiple other diseases.
Telavant was formed by Roivant (ROIV) and Pfizer (NYSE:PFE) to develop and commercialize RVT-3101 in the U.S. and Japan. Roivant (ROIV) owns a 75% stake in the company, while Pfizer owns 25%.
Once the deal closes, Roche (OTCQX:RHHBY) will have full rights to further develop and manufacture RVT-3101 and commercialize it in the U.S. and in Japan, pending clinical and regulatory success. Pfizer (PFE) holds commercialization rights for the therapy outside of the U.S. and Japan.
Roche (OTCQX:RHHBY) intends to start a global Phase 3 trial for RVT-3101 as soon as possible. After the deal’s closing, Roche (OTCQX:RHHBY) will also have an option to enter into a global collaboration with Pfizer (PFE) on a next-generation p40/TL1A directed bispecific antibody, currently in Phase 1.
The deal, which is subject to the Hart-Scott-Rodino waiting period, is expected to take place in Q4 2023 or in Q1 2024.
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Image and article originally from seekingalpha.com. Read the original article here.