- Myovant Sciences is a biopharmaceutical company developing innovative treatment solutions for women’s health conditions and endocrine-related disorders.
- Myovant Sciences was founded in 2016 in London, United Kingdom, by Lynn Seely.
- The company’s aim is to deliver innovative women’s health and prostate cancer solutions by efficiently advancing new medicines to market.
About Myovant Sciences
Myovant Sciences developed Relugolix, a once-daily oral medication developed to reduce testosterone production in men with prostate cancer, as testosterone enables and promotes prostate cancer growth. Relugolix is also believed to be effective in women experiencing Endometriosis and uterine fibroids, other testosterone-driven ailments.
Myovant is presently developing an additional pharmaceutical therapy called MVT-602, this medication is intended to trigger egg maturation in women undergoing fertility treatments, including IVF (in vitro fertilisation). This treatment is moving towards phase three before submission to the FDA for approval.
Myovant Sciences is a publicly traded company with the ticker (MYOV) and can be traded on the NYSE and NASDAQ markets.
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Myovant Sciences Funding
On August 5, 2020, Myovant Sciences announced a USD 200 million low-interest, five-year term loan commitment from Sumitomo Dainippon Pharma Co., Ltd. (TSE: 4506), bringing its total financing support for Myovant to USD 600 million, further bolstering Myovant’s cash and committed funding and increasing the company’s financing flexibility as it prepares for multiple potential product launches to treat advanced prostate cancer, uterine fibroids, and endometriosis.
Additionally, Myovant announced that it has entered into a three-year commercial collaboration agreement with Sunovion Pharmaceuticals Inc. (Sunovion), an indirect, wholly-owned subsidiary of Sumitomo Dainippon Pharma, for services to support the planned commercialisation of investigational drug candidate relugolix. Under the agreement, Sunovion will provide third-party logistics, trade and retail distribution, contract operations, and market access account management services to Myovant and will become a non-exclusive distributor of relugolix for prostate cancer and the exclusive distributor of relugolix combination tablet for uterine fibroids and endometriosis in the U.S.