An ex-Vant fur­ther im­mers­es it­self in a new um­brel­la, cash­ing out in a $584M M&A deal with Sum­it­o­mo Dainip­pon sub­sidiary

A for­mer Vivek Ra­maswamy biotech is be­ing brought clos­er in­to its new own­er’s fam­i­ly of com­pa­nies.

Sum­i­to­vant, the um­brel­la sub­sidiary of Sum­it­o­mo Dainip­pon that bought five of Ra­maswamy’s “Vants” in Sep­tem­ber 2019, is plan­ning on ful­ly ac­quir­ing Urovant Sci­ences $UROV for $584 mil­lion in an all-cash deal, the com­pa­nies an­nounced Thurs­day af­ter­noon. The merg­er val­ues Urovant at $16.25 per share, a 96% pre­mi­um on the biotech’s clos­ing price of $8.28 on Thurs­day.

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