Launch a new company, steer a $150M IPO and ink a big data collaboration — they call it Monday at Vivek Ramaswamy’s Roivant
Vivek Ramaswamy’s first Phase III may have been a nasty failure, but there’s no sign it’s slowed him down one tiny bit. We have three new moves to report this morning involving a new upstart in the ranks, a big IPO and a data deal with a big CRO.
Let’s start with the new biotech.
A year after the team at Patara Pharma touted the results of a Phase IIa study for their lead drug to treat chronic cough in IPF patients, they’ve packed up shop and taken their program to join up with the fast-growing crew at Vivek Ramaswamy’s Roivant Sciences.
Patara signed off on their website and this morning emerged as Respivant, Roivant’s 13th vant company — with others under construction.
And that’s not all.
The restless Ramaswamy offered up deal terms for Urovant’s $150 million-or-so IPO while Datavant struck a deal to collaborate with the big CRO Parexel on gathering mass amounts of new data on drugs.
In their deal to launch Respivant, Roivant is leaving Bill Gerhart in charge of the company as they lead up to a Phase IIb trial for IPF-related cough. Frank Torti, the new investment chair at Roivant, is the chairman.
Executive vice president for clinical and regulatory Ahmet Tutuncu and executive vice president for development and manufacturing Pravin Soni will also be part of Respivant, which is setting up a Phase IIb for RVT-1601, “a mast cell stabilizer with pleotropic immune modulating properties delivered directly to the lungs via a handheld aerosol device.”
Last fall the company reported that in a 24-patient Phase II trial the therapy demonstrated a statistically significant reduction in daytime and 24-hour cough frequency among idiopathic pulmonary fibrosis patients compared to a placebo following 14 days of treatment.
That new trial should get started in Q1 of next year.
Travis May at Datavant, meanwhile, struck a deal with Parexel to work together on using “real-world” data in clinical studies. For Parexel, it’s a chance to demonstrate an ability to incorporate data in designing clinical trials for its considerable array of development clients around the world. And for Datavant, it’s a chance to get a high-profile player in the CRO world to validate the work it’s doing.
Over at Urovant, the biotech plans to sell 10 million shares at a range of $14 to $16 each, putting the financier’s talents at fundraising to the test after his maiden effort at Axovant saw his first Phase III fail badly.
Image: Vivek Ramaswamy.