What's he think­ing about? Vivek Ra­maswamy lines up a heavy­weight ti­tle fight for a late-stage di­a­betes drug

Vivek Ra­maswamy has carved out a late-stage al­liance with a small biotech to take him in­to one of the most dif­fi­cult big mar­kets in the bio­phar­ma hand­book.

Ra­maswamy’s Roivant — the par­ent com­pa­ny to a line­up of “vant” star­tups — has agreed to pay Pox­el $50 mil­lion in cash and up to $600 mil­lion in mile­stones to take their di­a­betes drug in­to Phase III in the world’s biggest mar­kets. The up­front in­cludes $15 mil­lion for an eq­ui­ty stake.

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