HAMILTON, Bermuda, July 13, 2016 /PRNewswire/ -- Roivant Sciences Ltd. ("Roivant"), a biopharmaceutical company focused on realizing the full value of promising drug candidates to improve the lives of patients and their families, has expanded its Board of Directors through the appointment of Professor Andrew Lo, PhD as an independent director. This appointment follows the closing of Roivant's private financing led by Viking Global Investors.
"We are thrilled to complement our board of directors with the intellectual rigor and innovative perspective that Dr. Lo will bring to Roivant," commented Vivek Ramaswamy, Founder and CEO of Roivant Sciences, Inc. "As we pursue our unique mission of systematically reducing the time and cost of developing new medicines for patients and sharing those savings with the healthcare system, we know that Dr. Lo will help guide Roivant in building a new type of biopharmaceutical company."
Andrew Lo, PhD
Dr. Lo is currently the Charles E. and Susan T. Harris Professor of Finance at the MIT Sloan School of Management and is a member of the Board of Overseers at Beth Israel Deaconess Medical Center. His research interests include innovative approaches to healthcare financing, systemic risk assessment and evolutionary models of behavior. Dr. Lo is the author of several books and over 100 articles, including Buying Cures Versus Renting Health: Financing Health Care with Consumer Loans, Lessons From Hollywood: A New Approach To Funding R&D; and Is the FDA Too Conservative or Too Aggressive?: A Bayesian Decision Analysis of Clinical Trial Design. Dr. Lo is the founder, Chairman and Chief Investment Strategist of AlphaSimplex Group, LLC, a quantitative investment management company acquired by Natixis Global Asset Management in 2007. He is also a named inventor on three U.S. patents related to financial technology and risk management. Dr. Lo received his BA in economics from Yale University and his PhD in economics from Harvard University.
About Roivant Sciences
Roivant Sciences is a unique biopharmaceutical company with world-class drug development experts working across multiple clinical and functional areas to complete the development of promising late-stage drug candidates with the potential to significantly improve the lives of patients and their families. Roivant delivers R&D solutions to its industry partners by helping them to unlock value from their pipelines and realize the full potential of their research by completing the product development cycle.
Roivant's pipeline spans multiple therapeutic areas through strategic alliances, collaborations and partnerships with academic institutions and pharmaceutical companies, including Arbutus Biopharma, Arena Pharmaceuticals, Cincinnati Children's Hospital Medical Center, Duke University, Eisai, GlaxoSmithKline, Takeda Pharmaceuticals, and Vertex Pharmaceuticals. Roivant is the majority controlling shareholder of Axovant Sciences Ltd. (NYSE: AXON), and holds a significant minority interest in Arbutus Biopharma Corporation (Nasdaq: ABUS).
Additional information about Roivant Sciences is available through its website, www.roivant.com.
SOURCE Roivant Sciences Ltd.