Metavant makes a debut: Vivek Ramaswamy launches biotech #7 and builds a diabetes pipeline with Ligand deal
Just because David Hung recently left one of Vivek Ramaswamy’s Vant subsidiaries shortly after its lead therapy imploded in a failed pivotal study for Alzheimer’s is no reason for the multibillion-dollar outfit to stop doing deals and setting up new biotechs.
Ramaswamy is forking over $20 million in cash and promising $513.8 million in milestones to grab a new diabetes drug from Ligand with Phase II data ready to roll. Ligand spelled out the terms of the deal in an SEC filing today as Roivant dropped the news that it is now ramping up biotech #7: Metavant.
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