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A biotech startup's hunt for elusive disease targets scores $60M for drug R&D

Atavistik Bio is one of several companies discovering and developing drugs that work by allostery, binding to less obvious sites of a target protein. Acting CEO John Josey said the startup aims to stand apart with its focus on understanding metabolic interactions, a path less trodden by others in allosteric drug discovery.

Roivant's move to go public reveals just how much its drug strategy has changed

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Roivant Sciences and Montes Archimedes Acquisition Corp. (MAAC) to Combine and Create Publicly Traded Leader in Biopharma and Health Technology

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(MAAC), (ABUS) - Roivant Sciences Gets SPAC Deal: What To Expect From This BioPharma, Health Technology Company

Share: A drug discovery company with ownership stakes in several public and private biopharmaceutical companies is going public with a SPAC deal announced Monday morning. The SPAC Deal: Roviant Sciences announced a SPAC deal with Montes Archimedes Acquisition Corp (NASDAQ: MAAC). The deal values the company at an enterprise value of $5 billion. A $200 million PIPE is backed by companies including Softbank Group Corp., Fidelity Management & Research Co., Sumitomo Dainippon Pharma and Palantir Technologies Inc (NYSE: PLTR). Shares of the new company will trade as ROIV on the Nasdaq with an anticipated closing date in the third quarter. A percentage of current ownership shares will have a three-year lock-up and earn-outs based on $15 and $20 price points. Current Montes Archimedes acquisition shareholders will own 5.6% of the company after the merger.

Biotech firm Roivant Sciences to go public via $7.3 billion SPAC deal