Dermavant Sciences Acquisition, Valuation, Funding & Investors

Dermavant Sciences was acquired by Organon Pharma Indonesia for $1.2B in September 2024.

Dermavant Sciences acquisition price

$1.2B

Acquired by Organon Pharma Indonesia · Sep 2024

Cumulative funding Dermavant Sciences raised

$160M

across 1 funding round

Key investors in Dermavant Sciences

  • Novaquest Capital Management
  • Marathon Asset Management

Dermavant Sciences Overview

About Dermavant Sciences

Dermavant Sciences is a New York-headquartered clinical-stage biotech developing VTAMA tiracrolimus ointment for atopic dermatitis and psoriasis. Backed by Roivant Sciences, it focuses on novel topical therapies for inflammatory skin diseases.


Founded

2016

HQ

United StatesLos Angeles, CA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.2B (acquired Sep 2024)

Dermavant Sciences Acquisition

Dermavant Sciences was acquired by Organon Pharma Indonesia for $1.2B on 18 September 2024.

Before the acquisition Dermavant Sciences had raised $160M across 1 funding round.

Dermavant Sciences, a Roivant subsidiary dedicated to developing and commercializing innovative therapeutics in immuno-dermatology, owns VTAMA (tapinarof) cream 1%, an FDA-approved nonbiologic, non-steroidal topical treatment for plaque psoriasis with a pending atopic dermatitis approval expected in Q4 2024. Organon, a global healthcare company focused on women's health, completed the acquisition of Dermavant on October 28, 2024, after signing a definitive agreement in September 2024. The deal structure includes a $175 million upfront payment, a $75 million milestone upon atopic dermatitis regulatory approval, up to $950 million in commercial milestones, and tiered royalties on net sales, for aggregate consideration up to $1.2 billion. Organon aims to expand its dermatology portfolio by integrating Dermavant's VTAMA, which generated $18 million in net sales for Q2 2024 with a 20% script volume increase year-over-year and approximately 16,000 unique prescribers since launch, alongside its established brands and biosimilars. CEO Kevin Ali highlighted VTAMA as key to addressing chronic skin conditions like plaque psoriasis and potentially atopic dermatitis, leveraging Organon's U.S. organization and global commercial footprint. Roivant President Mayukh Sukhatme described the transaction as a win-win, enabling value-enhancing collaborations while sharing in VTAMA's success. The acquisition, subject to Hart-Scott-Rodino antitrust review and customary conditions, positions Organon to enter the U.S. dermatology market with a steroid-free option amid growing demand for innovative topical treatments, assuming Dermavant's global rights excluding China and out-licensed Japan.

Dermavant Sciences acquisition details
AcquirerDateTypePrice
  • Organon Pharma Indonesia
18 Sep 2024Strategic M&A$1.2B

Dermavant Sciences Funding History

Dermavant Sciences has raised a total of $160M across 1 funding round.

Dermavant Sciences funding rounds

Dermavant Sciences funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2021Undisclosed stageMarathon Asset Management (lead); Novaquest Capital Management (lead)$160MDermavant Sciences is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapeutics in immuno-dermatology, particularly tapinarof cream for psoriasis and atopic dermatitis. On July 6, 2021, Dermavant announced $200 million in financing, comprising a $160 million revenue interest purchase and sale agreement with Marathon Asset Management, NovaQuest Capital Management, and a third investor for a capped single-digit percentage of U.S. net sales of tapinarof across dermatological indications upon FDA approval, plus a $40 million senior secured loan. Proceeds were earmarked to fund milestone payments, approval, launch of tapinarof for psoriasis, and accelerate commercial preparations. The financing supported Dermavant's advancement toward FDA approval for tapinarof in plaque psoriasis, with a PDUFA target in Q2 2022, and ongoing Phase 3 trials (ADORING 1 and 2) for atopic dermatitis, with first patient dosed in September 2021. Dermavant built commercial infrastructure, including key leadership hires, and published positive Phase 3 PSOARING trial results in NEJM in December 2021, with high patient satisfaction data in January 2022. VTAMA (tapinarof) was later approved. In 2024, Organon agreed to acquire Dermavant for up to $1.2 billion (upfront $175M, milestones up to $950M, royalties), reflecting its value post-commercialization with VTAMA generating revenue.

Who has invested in Dermavant Sciences?

2 investors have backed Dermavant Sciences across its funding rounds, including Novaquest Capital Management and Marathon Asset Management.

Lead investors include Marathon Asset Management and Novaquest Capital Management.


Dermavant Sciences Investors

Investors in Dermavant Sciences by funding rounds participated
InvestorHQRoundsRoleFirst check

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Dermavant Sciences Competitors

Dermavant Sciences competitors include listed companies like TOWA Pharmaceutical, OPKO Health, Uniphar and Replimune Group, and private ones like Abcuro and FibroGen.

Public and private companies comparable to Dermavant Sciences
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AbcuroUnited StatesUnited StatesPrivate--$1.2B-
TOWA PharmaceuticalJapanJapanPublicly listed$1.8B$244M$1.2B1.3x
OPKO HealthUnited StatesUnited StatesPublicly listed$607M($56M)$1.2B2.3x
UnipharIrelandIrelandPublicly listed$3.5B$136M$1.2B0.5x
Replimune GroupUnited StatesUnited StatesPublicly listed-($302M)$1.2B59.4x
FibroGenUnited StatesSan Francisco, CAPrivate$108M-$1.2B11.3x

Dermavant Sciences Public Comps

Dermavant Sciences is no longer listed, but its public comps include TOWA Pharmaceutical, OPKO Health, Uniphar, Replimune Group, Alto Neuroscience, Everest Medicines, Akums Drugs and Pharma, Chongqing Genrix, Apnimed and Seaport Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
TOWA Pharmaceutical$1.8B$244M1.4x1.3x9.9x7.8x
OPKO Health$607M($56M)2.2x2.3x(23.3x)(11.2x)
Uniphar$3.5B$136M0.5x0.5x12.5x10.4x
Replimune Group-($302M)-59.4x(3.7x)(3.9x)
Alto Neuroscience-($67M)--(14.9x)(9.7x)
Everest Medicines$254M($72M)4.6x2.9x(16.3x)22.3x
Akums Drugs and Pharma$443M$54M2.4x2.2x19.9x16.6x
Chongqing Genrix$34M($70M)32.6x33.1x(16.0x)-

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Common questions about Dermavant Sciences

When was Dermavant Sciences founded?Dermavant Sciences was founded in 2016.
Where is Dermavant Sciences headquartered?Dermavant Sciences is headquartered in Los Angeles, CA, United States.
Is Dermavant Sciences publicly listed?No, Dermavant Sciences was acquired by Organon Pharma Indonesia in September 2024.
Who acquired Dermavant Sciences?Dermavant Sciences was acquired by Organon Pharma Indonesia in September 2024.
How much was Dermavant Sciences acquired for?Dermavant Sciences was acquired for $1.2B in September 2024.
How much funding has Dermavant Sciences raised?Dermavant Sciences has raised $160M across 1 funding round.
What was Dermavant Sciences' last funding round?Dermavant Sciences' last funding round was a $160M undisclosed-stage round in June 2021, led by Marathon Asset Management and Novaquest Capital Management.
Who are Dermavant Sciences' investors?Dermavant Sciences' investors include Marathon Asset Management and Novaquest Capital Management.
Which companies are comparable to Dermavant Sciences?Companies comparable to Dermavant Sciences include Abcuro, TOWA Pharmaceutical, OPKO Health, Uniphar, Replimune Group and FibroGen.

See companies similar to Dermavant Sciences

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