Roche to acquire Telavant for $7.1B upfront; Roivant owns 75% stake

Roivant Sciences Ltd.

Roche pays $7.1B cash at closing plus $150M milestone for rights to RVT-3101 in US and Japan.
Roivant owns 75% of Telavant and will receive the majority of proceeds; Pfizer owns 25%.
RVT-3101 showed 36% clinical remission and 50% endoscopic improvement at week 56 in Phase 2b UC trial.
Roche obtains option to collaborate with Pfizer on a next-generation p40/TL1A bispecific antibody (Phase 1).
Transaction expected to close in Q4 2023 or Q1 2024, subject to HSR and other conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Roivant Sciences Ltd. entered into Stock Purchase Agreement with Roche Holdings, Inc. valued at $7.1 billion in cash at the closing (effective 2023-10-22).

Action: entry
Agreement: asset purchase
Counterparty: Roche Holdings, Inc.
Value: $7.1 billion in cash at the closing
Effective: 2023-10-22

Exact text from the filing

On October 22, 2023, Roivant Sciences Ltd. (the “Company”), the Company’s subsidiary Telavant Holdings, Inc. (“Telavant”), Pfizer Inc. (“Pfizer”) and Roche Holdings, Inc. (the “Buyer”) entered into a Stock Purchase Agreement (the “Purchase Agreement”), pursuant to which the Buyer agreed to acquire all of the issued and outstanding shares of capital stock of Telavant on the terms and subject to the conditions set forth in the Purchase Agreement (the “Transaction”).

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Source: SEC EDGAR

accession 0001140361-23-049091

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