Dermavant Sciences Announces Closing of Transaction With GSK for Purchase of Rights to Tapinarof
PHOENIX, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Dermavant Sciences, a subsidiary of Roivant Sciences, today announced the closing of its transaction with GSK, executed on July 10, 2018, for the purchase of all global rights to tapinarof, except in China. Tapinarof is an investigational therapeutic aryl hydrocarbon receptor modulating agent (TAMA) for the treatment of psoriasis and atopic dermatitis.
The closing of the transaction occurred on Aug. 20, 2018, and the £150 million initial payment due under the agreement has been paid to GSK.
“Tapinarof is a prime example of the Dermavant mission, which is to develop and commercialize novel treatment options that improve patients’ lives, and we are eager to advance its development,” said Jackie Fouse, Ph.D., Executive Chair of Dermavant Sciences.
“Tapinarof is an exciting addition to our robust pipeline of dermatology assets,” said Vince Ippolito, President and Chief Operating Officer of Dermavant Sciences. “Tapinarof represents true innovation in a well-studied molecule, tested in over 600 patients. If approved, tapinarof could prove to be a valuable, first-line treatment option for patients suffering with atopic dermatitis and psoriasis, an area in which no topical new chemical entity has been introduced in decades.”
Dermavant Sciences is a specialty biopharmaceutical company developing innovative therapies to address unmet needs in medical dermatology. Dermavant is dedicated to realizing the full potential of biomedical research and to developing and commercializing novel, first-in-class or best-in-class therapies that improve patients’ lives.
For more information about Dermavant, please visit www.dermavant.com.