Letter for Partners/Vendors
Dear [PARTNER/VENDOR NAME],
On November 12, 2020, we
announced that a special independent committee of Urovants board of directors has accepted an offer by Sumitovant Biopharma to acquire all outstanding shares of Urovant. As a result, Urovant has entered into an agreement with Sumitovant
through which, subject to the satisfaction or waiver of the conditions in the agreement, Urovant will become a private company and wholly owned subsidiary of Sumitovant and our shares will no longer trade publicly.
Please view our news release announcing this agreement here
(https://ir.urovant.com/news-releases/news-release-details/urovant-sciences-enters-definitive-agreement-sumitovant).
The transaction is expected to close
during Q1 2021, subject to approval by a majority of the minority (non-Sumitovant) shareholders and certain other conditions.
I believe this change will
put our company in an even stronger position to bring vibegron to the market. I believe Sumitovants investment represents the immense confidence they have in Urovants future success and sets us up to become a world-leading urology
company.
We expect that Urovant an innovative biopharmaceutical company focused on developing and commercializing novel therapies for urologic
conditions will remain a U.S. company based in Irvine, California. We expect that our current leadership team will remain in place, and we do not expect the agreement announced on November 12 to have any significant staffing impact. In
fact, as before, we plan to add a sales force and many critical new members to our team in preparation for the vibegron launch. As of today, we dont foresee any changes in those plans.
Our mission and our values endure. Together, we are building a strong and growing company one that is committed to diversity; one that is open to new
ideas and perspectives; and one that brings out the best in people so together we can make life better for our patients, our organization and our communities.
Our focus remains clear. Launching a new medicine is a precious opportunity for all of us, and we remain committed to our important work to bring vibegron to
patients. FDA action on our vibegron filing is anticipated on December 26, 2020, and I am confident that our extraordinary team can achieve sustained growth and deliver on our promises to patients, providers and payers.
I am sincerely looking forward to further discussions with you about our ongoing collaboration, and we deeply value our relationship with [VENDOR/PARTNER
NAME]. Please reach out to me if you have any questions about our announcement. I hope you agree that our future is bright indeed.
Best regards,
Cornelia Haag-Molkenteller
Executive Vice President, Chief
Medical Officer