In Vivo is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
Brought to you by

Urovant secures $200mm loan from Sumitomo Dainippon; later increased to $300mm

Executive Summary

To support the concurrent signing of a definitive agreement with Sumitomo Dainippon Pharma Co. Ltd. (SDP) to create a strategic alliance (for which the partners signed an MOU last month), Roivant Sciences Inc.'s Urovant Sciences Ltd. (urinary disorders) secured a $200mm, five-year loan facility from SDP. The loan requires no repayments due until the end of the term. The agreement will become effective upon close of the SDP's alliance transaction with Roivant to secure up to 25 clinical-stage programs for up to 11 Roivant biopharmaceutical divisions (known as vants).

Update 12/30/2019

Urovant increased its previously announced five-year loan facility from SDP (at an interest rate of LIBOR plus 3%) to $300mm, with $87.5mm funded immediately.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement

Related Companies

UsernamePublicRestriction

Register