Roivant unveils new subsidiary on deal with Ligand

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) granted exclusive, worldwide rights for diabetes candidate RVT-1502 (formerly LGD-6972) to the newly created Metavant Sciences subsidiary of Roivant Sciences GmbH (Basel, Switzerland). Roivant has established at least six subsidiaries, which it calls "vants," focused on drug development.

In September, Ligand reported RVT-1502 met the primary endpoint of reducing HbA1c from baseline to week 12 vs. placebo in a Phase II trial to treat Type II diabetes...