Roivant, Pfizer Unveil Latest Spinout Focused On Autoimmune Diseases

Roivant Sciences Ltd ROIV and Pfizer Inc PFE unveiled Priovant Therapeutics, dedicated to developing and commercializing novel therapies for autoimmune diseases.
Priovant was established in September 2021 through a transaction between Roivant and Pfizer.
Pfizer licensed oral and topical brepocitinib's global development rights and US and Japan commercial rights to Priovant.
Pfizer holds a 25% equity ownership interest in Priovant.
Brepocitinib is a potential first-in-class dual inhibitor of TYK2 and JAK1.
Priovant is developing oral brepocitinib as a franchise across multiple orphan and specialty autoimmune diseases with few approved therapies, high morbidity and mortality, and pathobiologies for which both TYK2 and JAK1 inhibition are expected to contribute to efficacy.
Priovant recently initiated a single registrational Phase 3 study in dermatomyositis. A global Phase 2b study in SLE, designed to serve as one of two registrational studies, is close to fully enrolled with data anticipated in 2H 2023.
In addition to brepocitinib, Pfizer has also licensed ropsacitinib, a selective TYK2 inhibitor, to Priovant.
Price Action: ROIV shares are down 0.24% at $4.67, and PFE stock is down 1.20% at $51.26 during the market session on the last check Tuesday.