Takeda has siphoned its women’s health and prostate cancer operations into a new biopharma firm, created in conjunction with pharmaceutical holding company Roivant Sciences.
Myovant Sciences will focus on delivering innovative therapies in the two areas, with former Medivation chief medical officer Lynn Seely appointed to lead the business.
Vivek Ramaswamy, chief executive at Roivant Sciences, said that the creation of Myovant is a “win-win” for patients as it looks to “address major unmet medical needs in women’s health, prostate cancer and beyond”.
A 30-year old former hedge fund partner, Ramaswamy is best known for last year launching the biggest ever US biotech IPO and has told Forbes he wants his firm to be the “Berkshire Hathaway of drug development”.
Roivant describes its work as helping biopharma companies “unlock value from their pipelines by completing the clinical development of promising drug candidates”, that might otherwise not have been invested in.
For its tie-up with Takeda, the Japanese firm has granted Myovant Sciences an exclusive, worldwide license for its prostate cancer candidate relugolix, with the exception of Asian markets.
The once-daily, oral drug is currently in phase III trials and has demonstrated ‘significant clinical benefit’, according to the company.
Myovant has also received an exclusive, commercial license for RVT-602, Takeda’s oligopeptide kisspeptin receptor agonist for the treatment of female infertility.
Andrew Plump, chief medical and scientific officer at Takeda, said that Myovant will succeed in bringing relugolix to market by uniting the new company’s “in-house development capabilities” and “deep expertise” with its parent company’s “commercial presence in certain Asian territories”.
The move comes as Takeda looks to focus its resources on oncology, gastroenterology and central nervous system diseases, with Plump adding that the firm is “establishing a strategy that embraces innovative partnerships” in these three areas.