Roivant Splashes Cash Again To License GSK Skin Disorder Drug
The UK drug maker is tightening its R&D focus by selling on the psoriasis and atopic dermatitis investigational drug tapinarof to Dermavant, banking a hefty £150m up front and possibly another £100m after that.
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The Roivant-owned company's Vtama topical cream was approved by the US FDA with a broad label permitting use for mild, moderate or severe psoriasis.
CEO Todd Zavodnick said the non-steroidal topical cream is poised to become a blockbuster brand.
Public Company Edition: Of five drug developers expected to go public, four have preclinical or early clinical candidates, while the one that could not find a market for its IPO is in Phase III. Also, Biohaven, Zymeworks and Kura raise $100m or more in follow-on offerings.