Sumitovant Biopharma to acquire a 28% stake in Urovant Sciences for $191m.

Sumitovant Biopharma, a biopharmaceutical company, agreed to acquire a 28% stake in Urovant Sciences, a clinical-stage biopharmaceutical company, for $191m. "During this pivotal phase of growth, fully becoming a part of our parent company, Sumitovant, positions Urovant to invest in all opportunities around vibegron including launching and building our commercial organization while maintaining our strategic direction, our commitment to patients with urologic conditions, and our unique corporate culture for employees. This transaction benefits Urovant shareholders by derisking our future and providing current and certain value going forward," James Robinson, Urovant CEO.