Roche said it would pay $7.1 billion up front and a near-term milestone payment of $150 million. Under the agreement, the company will gain the rights to develop, manufacture and commercialize Telavant’s RVT-3101 drug candidate for inflammatory bowel disease.
Three more things to note:
- According to The Wall Street Journal, Roivant and Pfizer formed Telavant last year to develop and commercialize the drug candidate, with Roivant owning 75% and Pfizer 25%. Roivant was founded in 2014 by Republican presidential candidate Vivek Ramaswamy.
- RVT-3101 demonstrated meaningful efficacy and a favorable safety profile in treating ulcerative colitis in phase 2 trial results reported early this year. Once the Roche deal closes, the company will work quickly to move the drug into phase 3 trials, it said in its agreement announcement.
- Pfizer will hold commercialization rights to the drug outside of the U.S. and Japan. Once the deal closes, Roche will also have the option to enter a global collaboration with Pfizer on a next-generation antibody for inflammatory bowel disease, p40/TL1A, currently in phase 1 trials.
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