© Reuters. Roche to acquire Telavant from Roivan and Prizer for $7.25 billion
(Updated – October 23, 2023 6:25 AM EDT)
Roche (RHHBY (OTC:)) announced a deal Monday to acquire Telavant Holdings from Roivant (NASDAQ:) and Pfizer (NYSE:) for $7.1 billion upfront and a mid-term milestone payment of $150 million.
With the agreement, Roche will acquire exclusive rights for the development, production, and marketing of RVT-3101 in the United States and Japan, with a focus on its application in treating inflammatory bowel disease and potentially other related ailments. RVT-3101, an antibody poised for Phase 3 trials, boasts a groundbreaking mode of action, leading the way in its category, and is supported by compelling Phase 2b results in addressing ulcerative colitis.
Roche will additionally secure an option for a worldwide partnership with Pfizer regarding a cutting-edge Phase 1 bispecific antibody targeting p40/TL1A.
“We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases,” said Thomas Schinecker, CEO Roche Group. “We are excited to add this promising new therapy in development to our portfolio and to make it available to patients as quickly as possible.”
Citi served as Roche’s exclusive financial advisor, with legal counsel provided by Davis Polk & Wardwell LLP. Freshfields Bruckhaus Deringer LLP represented Roivant as legal counsel.