Source: GlobeNewswire

Press Release: Myovant Sciences : Myovant Sciences Enters Landmark Agreement with Sumitomo Dainippon Pharma to Secure Major Financial Backing and Safeguards for Minority Shareholders

BRISBANE, Calif. and BASEL, Switzerland, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Myovant Sciences (NYSE: MYOV), a healthcare company focused on developing innovative treatments for women's health and prostate cancer, today announced that it has entered into a landmark agreement with Sumitomo Dainippon Pharma Co., Ltd. (TSE: 4506), a leading Japanese pharmaceutical company, on a $350 million low-interest, five-year term loan facility and an Investor Rights Agreement. This agreement was made in conjunction with Myovant's founding shareholder, Roivant Sciences, and Sumitomo Dainippon Pharma entering into a definitive agreement for the creation of a broad strategic alliance. At closing, the alliance entity will assume Roivant's ownership interest in Myovant, which is expected to represent not less than a majority of Myovant's outstanding shares.

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Lynn Seely's photo - President & CEO of Myovant Sciences

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Lynn Seely

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Myovant Sciences is a biopharmaceutical company that develops and commercializes therapeutics for the treatment of fibroids and prostate cancer. Read more