Prognosis
SoftBank-Backed Biotech Roivant Climbs to $7 Billion Valuation
- New $200 million infusion gives the startup a rich price tag
- Private biotechs continue to raise windfalls as IPOs beckon
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Roivant Sciences Ltd. raised $200 million in a new funding round that makes it one of the most highly valued private firms in the history of the biotechnology industry at $7 billion, according to the company.
Previous backers including SoftBank’s Vision Fund took part in the new financing, as did new investors NovaQuest Capital Management and RTW Investments, Roivant said in a statement on Tuesday. In August 2017, the company raised $1.1 billion from the Vision Fund, which has placed a series of splashy bets on Internet and other startups but backed few other biotech ventures.