Pharmaceutical company Roche will acquire Telavant Holding for 7.1 billion dollars.
According to the statement made by Roche, the company's board of directors has approved the agreement to acquire Telavant Holding, owned by US biotechnology companies Roivant Holdings and Pfizer, for 7.1 billion dollars in cash. Additionally, Roche will make a further payment of 150 million dollars.
The deal is expected to be completed in the first quarter of 2024, following the receipt of necessary approvals.
Under the terms of the acquisition agreement, Roche will obtain the rights to develop, manufacture, and commercialize RVT-3101, an experimental antibody, in the US and Japan.
Inflammatory bowel disease is known as a health issue that arises as a result of inflammation on the inner lining of the intestines. A weakened immune system, poor nutrition, smoking, alcohol, stress, genetics, and the use of certain medications are cited among the causes of inflammatory bowel disease.
According to Roche, approximately 8 million people worldwide have been diagnosed with inflammatory bowel disease.
Meanwhile, Roche reported that RVT-3101 also has the potential to be used in the treatment of many other diseases.
News Source: AA
