Basel-based Roivant Sciences will develop the drug for AstraZeneca and has licensed the global rights for its development and commercialization from the British-Swedish company. Under the terms of the partnership, Roivant Sciences will receive an upfront payment as well as development milestones and royalties.
Roivant Sciences has a number of subsidiaries, each of which is active in specialized areas. These include Urovant, which works in the field of urology, and the newly founded Datavant, which aims to improve drug development by analysing large amounts of data.
Roivant Sciences and its subsidiaries were assisted by BaselArea.swiss in relocating to Basel.
The drug that Roivant Sciences will develop for AstraZeneca is outside of AstraZeneca’s main therapy areas.
“I admire AstraZeneca’s commitment to ensuring that innovative medicines reach patients,” Vivek Ramaswamy, founder and CEO of Roivant Sciences, said in a statement announcing the new partnership. “I hope this is the first of many future collaborations.”