Dermavant Sciences Inc. has received its first FDA approval with the agency’s blessing of Vtama (tapinarof) for treating plaque psoriasis in adults. The treatment is also the first FDA-approved, steroid-free topical medication in its class in addition to being the first psoriasis novel topical chemical entity introduced to the market in the past 25 years.
Dermavant Sciences Inc. has announced a $200 million financing deal to clear the way for a potential U.S. launch of its dermatology cream tapinarof, covering a potential milestone payment to Glaxosmithkline plc following a filing in severe psoriasis.
A prolific builder of biopharma and health technology companies, Roivant Sciences Ltd. is poised to join Nasdaq through a newly proposed merger with a special purpose acquisition company (SPAC) sponsored by Patient Square Capital LLC. The deal, which values Roivant at $5 billion, includes $611 million of new money, composed of $411 million held in trust by the SPAC, Montes Archimedes Acquisition Corp., plus $200 million from a committed PIPE financing. The transaction, expected to peg Roivant's initial market cap at $7.3 billion, follows a September 2019 deal in which Roivant sold interests in five biopharmas to Sumitomo Dainippon Pharma Co. Ltd. (SDP) for $3 billion cash.