Roivant Sciences, the biotech company once pitched as a Berkshire Hathaway for the pharmaceutical industry, is going public, merging with a blank-check company at a $7.3 billion valuation.
In a deal disclosed Monday, Roivant will combine with a special-purpose acquisition company, or SPAC, called Montes Archimedes Acquisition Corp., founded by private equity investor Jim Momtazee. Roivant gets the $411 million Montes raised in its initial public offering last year, plus another $200 million in new financing from a group of investors that includes Fidelity, Viking Global, SoftBank, and Palantir Technologies.
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