Skip to Content
Uncategorized

Softbank Is Investing $1.1 Billion to Help a Biotech Firm’s Tech Drive

August 9, 2017

The enormous technology conglomerate Softbank is continuing its spending spree, this time investing $1.1 billion into biotech firm Roivant Sciences. The drugmaker is currently developing seven neurological therapies and several treatments for rare diseases, among others. It’s the first time that Softbank has dipped into its $93 billion Vision Fund, which includes cash from Saudi Arabia, to support a drugmaker. Roivant’s CEO, Vivek Ramaswamy, tells Endpoints that the funding injection won’t all be used for regular biotech ideas: instead, some of it will be funnelled into what he calls “new technologies that can improve a biotech’s efficiency.”

Softbank is on a huge spending spree right now. In the past year, it has acquired the British chip designer ARM, invested $4 billion into chipmaker Nvidia, turned the London-based simulation startup Improbable into a unicorn, and gobbled up the robot maker Boston Dynamics. Next stop, drug tech.

Keep Reading

Most Popular

DeepMind’s cofounder: Generative AI is just a phase. What’s next is interactive AI.

“This is a profound moment in the history of technology,” says Mustafa Suleyman.

What to know about this autumn’s covid vaccines

New variants will pose a challenge, but early signs suggest the shots will still boost antibody responses.

Human-plus-AI solutions mitigate security threats

With the right human oversight, emerging technologies like artificial intelligence can help keep business and customer data secure

Next slide, please: A brief history of the corporate presentation

From million-dollar slide shows to Steve Jobs’s introduction of the iPhone, a bit of show business never hurt plain old business.

Stay connected

Illustration by Rose Wong

Get the latest updates from
MIT Technology Review

Discover special offers, top stories, upcoming events, and more.

Thank you for submitting your email!

Explore more newsletters

It looks like something went wrong.

We’re having trouble saving your preferences. Try refreshing this page and updating them one more time. If you continue to get this message, reach out to us at customer-service@technologyreview.com with a list of newsletters you’d like to receive.