Roivant, the biotech cephalopod out to weave blockbusters out of pharma’s discard pile, just brought in a superlative amount of money. But for a young firm that has raised both eyebrows and hackles around the industry, the most important detail about its new investment might be the timing.

Roivant, founded and steered by the 32-year-old former hedge fund manager Vivek Ramaswamy, is today $1.1 billion richer thanks to an investor syndicate led by SoftBank, a Japanese telecommunications giant with a $100 billion investment fund.

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