Roche Completes Acquisition Of Telavant From Roivant, Including Rights To Novel Tl1A Directed Antibody (Rvt-3101) For The Treatment Of Inflammatory Bowel Disease
Roche Completes Acquisition Of Telavant From Roivant, Including Rights To Novel Tl1A Directed Antibody (Rvt-3101) For The Treatment Of Inflammatory Bowel Disease
12/14/23, 2:05 PM
Location
grindelwald
new yorkIndustry
biotechnology
biotechnology research
Roivant (Nasdaq: ROIV) announced today the completion of the previously announced acquisition by Roche (SIX: RO, ROG; OTCQX: RHHBY) of Telavant, for an upfront payment of approximately $7.1 billion. Telavant holds the rights in the US and Japan to RVT-3101, a promising new therapy in development for people suffering from inflammatory bowel disease, including ulcerative colitis and Crohn’s disease. Prior to the closing of the transaction, Roivant owned 75% of the issued and outstanding shares of common stock and preferred stock of Telavant, on an as-converted basis. An additional payment of $150 million in cash is payable upon the completion of a near-term milestone.
Company Info
Location
Grindelwald, Bern, Switzerland
Company info
Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives. The combined strengths of pharmaceuticals and diagnostics under one roof have made Roche the leader in personalised healthcare – a strategy that aims to fit the right treatment to each patient in the best way possible.