Sumitovant buys full ownership of Urovant
Sumitovant Biopharma and Urovant Sciences (Nasdaq: UROV) have entered into a definitive merger agreement for Sumitovant to acquire the outstanding shares of Urovant common stock not already owned by Sumitovant at a price of $16.25 per share in cash.
Sumitovant, which currently owns 72% of the outstanding shares of Urovant common stock, is a wholly owned subsidiary of Japan’s Sumitomo Dainippon Pharma (TYO: 4506). Sumitovant is also the majority shareholder of Myovant Sciences, and wholly owns Enzyvant Therapeutics, Spirovant Sciences, and Altavant Sciences.
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