Roivant Sciences raises $1.1bn to support new subsidiaries

Roivant Sciences GMBH raised $1.1bn from lead investor SoftBank Vision Fund (the investment arm of Japanese tech giant SoftBank Group International) and additional returning backers including Dexxon. The funding, which is the largest private biopharma round to date, will support creation of new subsidiaries. Roivant's portfolio of drug development firms already includes Axovant (neurology), Dermavant (dermatology), Urovant (urology), Myovant (endrocrine diseases and women's health), and Enzyvant (rare diseases). It just announced a new division Datavant, which is the first Roivant company to operate outside of the drug development arena and instead focus on data analysis in clinical trials.