ROIV - Roivant unit in pact with Boehringer Ingelheim for cancer therapies

2023-03-28 10:30:35 ET

• Covant Therapeutics, a Boston-based drug discovery company operating under Roivant Sciences ( NASDAQ: ROIV ), announced a global licensing agreement with German pharma Boehringer Ingelheim on Tuesday to jointly develop cancer immunotherapies.
• Per the terms, Covant will collaborate to advance its ADAR1 program with Boehringer Ingelheim to develop an ADAR1 inhibitor for use with other immunotherapies to enhance their efficacy.
• Covant will lead the development of ADAR1 small molecule inhibitors and, in return, will receive $10M upfront and up to $471M in additional milestone payments and tiered royalties on global sales.
• “ADAR1 is an exciting immuno-oncology target with significant therapeutic potential,” remarked Lamine Mbow, Global Head of Cancer Immunology at Boehringer Ingelheim.
• Seeking Alpha analyst Out of Ignorance argues that despite its “complicated” financial setup, Roivant ( ROIV ) “has a sprawling pipeline with multiple potential blockbuster therapies.”

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