Urovant launches US$150m IPO
Swiss biopharma company Urovant Sciences has launched its IPO on Nasdaq, seeking US$150m. The proceeds will go to Phase III trials for its overactive bladder treatment candidate vibegron.
The Roivant subsidiary, which is headquartered in Basel, was founded just last year. It licensed vibegron (RVT-901), a Phase III-ready small molecule for the treatment of overactive bladder, from Merck. Now, the urology specialist is eyeing a US$150m IPO in order to fund clinical trials of vibegron in three indications.
According to the S-1, Urovant aims to use the proceeds to fund a Phase III trial in patients with overactive bladder (OAB), as well as another trial in OAB patients with benign prostatic hyperplasia. Urovant Sciences will also test the small molecule in a Phase 2a clinical trial for vibegron in patients with pain associated with irritable bowel syndrome.
Overactive bladder affects potentially 46 million American adults. The most common symptoms of OAB include the experience of sudden urges to urinate that cannot be controlled, frequent urination, and urinary incontinence due to involuntary contractions of the detrusor muscle. While several conditions may contribute to signs and symptoms of overactive bladder, the underlying cause of OAB remains unclear.
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