CINCINNATI (Cincinnati Business Courier) - Cincinnati Children’s officials disclosed today that research on gene therapy for sickle cell disease has resulted in the hospital’s biggest commercialization deal ever.
The hospital and Roivant Sciences launched as a joint venture a biopharmaceutical company called Aruvant Sciences, which will focus on developing innovative gene therapies for hematological conditions such as sickle cell and beta thalassemia.
Financial terms weren’t disclosed, but the deal includes “a very large upfront payment,” milestone payments, royalties and stock in Aruvant, said Andrew Wooten, vice president of Cincinnati Children’s Innovation Ventures, which until recently was called the hospital’s Center for Technology Commercialization.
While Roivant is based in Basel, Switzerland, the company’s founder and CEO is Cincinnati native Vivek Ramaswamy, 33, who graduated as valedictorian of St. Xavier High School in 2003.
Aruvant is the first Roivant subsidiary in Cincinnati.
To learn more about the deal and the new company’s plans for Cincinnati, read the full story from the Cincinnati Business Courier.
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