Roivant Sciences Stock Price, News & Analysis

Lokavant, a clinical trial intelligence platform, has announced strategic new hires to bolster its leadership team, appointing AJ Mills as executive vice president of sales, Doug Weatherhead as vice president of marketing, and Meredith Dees as vice president of product. Each brings extensive industry experience spanning over a decade. Mills previously held leadership roles at Clario and ICON, Weatherhead has a background in decentralized clinical trial technology, and Dees has worked in various capacities within clinical research. Lokavant aims to enhance its platform capabilities, accelerating clinical trials and improving patient outcomes.

Lokavant, the clinical trial intelligence platform, has reached significant milestones following a $21 million Series A funding round. Within three months, it has expanded its customer base threefold and increased employee growth by 53%. The platform improves clinical trial efficiency by integrating over 2,000 trials’ data, resulting in a 70x improvement in enrollment forecast accuracy, saving over $1 million per trial. Notably, Lokavant is now a standalone entity under Roivant Sciences and has made key leadership hires to support its rapid growth.

BOSTON, March 28, 2023 — Covant Therapeutics has announced an exclusive research collaboration with Boehringer Ingelheim focusing on its ADAR1 program to develop a small molecule immunotherapy for cancer patients. Covant's platform accelerates drug discovery for challenging targets like ADAR1. The partnership aims to create an ADAR1 inhibitor to enhance the efficacy of existing immunotherapies. Covant will receive an upfront payment of $10 million and has the potential to earn up to $471 million in milestones along with royalties on global sales. This collaboration highlights ADAR1’s potential to improve cancer treatments and reflects confidence in Covant's innovative approach.

Dermavant Sciences, a Roivant Sciences company, announced positive results from the ADORING 2 Phase 3 trial evaluating VTAMA cream for atopic dermatitis. The study demonstrated that 46.4% of subjects using VTAMA achieved the primary endpoint of clear or almost clear skin, significantly outperforming the vehicle group (18.0%, P<0.0001). Key secondary endpoints were also met, including a 59.1% improvement in EASI scores. The trial showed a rollover rate of 92.4% into a long-term safety study, indicating strong patient retention. VTAMA is already approved for plaque psoriasis, providing a potential advantage in treatment regimens for both children and adults.